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Non-Registration of Agreement Doesn't Affect Capital Gains Tax u/s 2(47) for Plot Owners in Joint Development.

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....Long Term Capital Gain u/s 45 - transfer u/s 2(47) - non registration of agreement cannot lead to the conclusion that provision of section 2(47) (v) is not applicable - It is the members who are owning the plots and the Society was only a facilitator. It becomes clear from the JDA that payment for consideration was to be made to an individual plot holder and in fact consideration was mentioned in terms of per Member. - Capital gain is taxable in the hands of members - AT....

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Non-Registration of Agreement Doesn't Affect Capital Gains Tax u/s 2(47) for Plot Owners in Joint Development.