| COURT: | Kerala High Court |
| CORAM: | A.M.Shaffique J, Dr. Manjula Chellur CJ |
| SECTION(S): | 2(47), 45, 53A |
| GENRE: | Domestic Tax |
| CATCH WORDS: | capital gains, part performance of contract, Power of Attorney, transfer |
| COUNSEL: | Joseph Kodianthara |
| DATE: | January 1, 2014 (Date of pronouncement) |
| DATE: | November 14, 2014 (Date of publication) |
| AY: | 2004-05 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 2(47)(v): Execution of a Power of Attorney in favour of the builder constitutes part performance u/s 53A of TOP Act and a "transfer" for capital gains | |
(i) On a reading of the above provision itself, it is clear that possession of the property has been handed over to the builder immediately on receipt of the first installment of the payment from the builder. As per clause …
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