Transfer of Immovable Property for Tax: Possession & Contract Performance Key in Capital Gains under Sec 2(47)(v.

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....Taxability of long term capital gain - Section 2(47)(v) of the Act clearly stipulates that transfer of the immovable property comes into effect when possession of the property is handed over coupled with part performance of the contract of the nature referred to in section 53A of the Transfer of Property Act, 1882. - AT....