https://www.taxtmi.com/caselaws?id=58925 Unregistered purchase and long-term lease arrangements did not create a legally enforceable or transferable interest in immovable property where registration was compulsory. The majority view treated registration as necessary for title and transferable rights to arise. Part performance protected possession only as a defence and did not confer title capable of supporting capital-gains taxation. The later inclusion of specified possession-based arrangements within the transfer definition indicated that such arrangements were previously outside the charging provision. Consequently, the receipts did not constitute a taxable transfer of a capital asset for the relevant assessment year, and the short-term capital-gain addition was deleted. en-us Thu, 15 Nov 1990 00:00:00 +0530 Wed, 22 Dec 2010 18:15:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58925 Unregistered purchase and long-term lease arrangements did not create a legally enforceable or transferable interest in immovable property where registration was compulsory. The majority view treated registration as necessary for title and transferable rights to arise. Part performance protected possession only as a defence and did not confer title capable of supporting capital-gains taxation. The later inclusion of specified possession-based arrangements within the transfer definition indicated that such arrangements were previously outside the charging provision. Consequently, the receipts did not constitute a taxable transfer of a capital asset for the relevant assessment year, and the short-term capital-gain addition was deleted. Case-Laws Income Tax Thu, 15 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58925