https://www.taxtmi.com/caselaws?id=795701 A joint development agreement does not trigger transfer-based capital gains merely because the developer receives possession and an irrevocable power of attorney, where the owners retain their status and the developer's possession is only permissive for construction. Such possession is not delivered in part performance under section 53A of the Transfer of Property Act and therefore does not fall within section 2(47)(v). For qualifying individual development agreements, capital gains are generally chargeable upon issuance of the completion certificate under section 45(5A), rather than on execution of the agreement. en-us Tue, 21 Jul 2026 00:00:00 +0530 Sat, 25 Jul 2026 08:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795701 A joint development agreement does not trigger transfer-based capital gains merely because the developer receives possession and an irrevocable power of attorney, where the owners retain their status and the developer's possession is only permissive for construction. Such possession is not delivered in part performance under section 53A of the Transfer of Property Act and therefore does not fall within section 2(47)(v). For qualifying individual development agreements, capital gains are generally chargeable upon issuance of the completion certificate under section 45(5A), rather than on execution of the agreement. Case-Laws Income Tax Tue, 21 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795701