Assessee contributed his undivided title and rights in land as its capital contribution to a duly registered AOP formed by it with two other entities vide an article of agreement.  Amount was credited to capital account of assessee. Assessing Officer held that there was transfer of capital asset as per section 2(47)  and added as business income of the assessee. CIT(A) deleted  the addition. On appeal  the Tribunal held that   the assessee had relinquished its right in land in favour of AOP and, therefore, as per section 2(47) there was a transfer of capital asset. Accordingly, transaction of land introduced by assessee as his share of capital in AOP was taxable under section 45(3) and value of land which was credited in books of account of AOP would be deemed to be full value of consideration as a result of transfer of land. (AY. 2013-14)