| COURT: | ITAT Hyderabad |
| CORAM: | P.M.Jagtap (AM), Saktijit Dey (JM) |
| SECTION(S): | 2(47), 53A |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Developer, Development agreement, part performance of contract, transfer |
| COUNSEL: | A. Srinivas |
| DATE: | November 26, 2014 (Date of pronouncement) |
| DATE: | December 1, 2014 (Date of publication) |
| AY: | 2008-09 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 2(47)/ 53A: Mere handing over possession pursuant to development agreement does not result in transfer if developer has not taken steps for development of property | |
The AO has assessed capital gain in the assessment year for the reason that assessee as per the terms of the development agreement entered with the developer has handed over possession of the property. However, as can be seen from …
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