Assessee had entered into a development agreement, to extend her land for joint development with a company.  Development agreement provided that an amount of Rs. 7 crores was to be paid to assessee and possession of property was to be handed over to developer by assessee, Assessing Officer held that as per section 2(47)(v) read with section 53A of Transfer of Property Act said transaction had culminated into transfer of immovable property thereby attracting long term capital gain. On appeal CIT(A) allowed the appeal. On appeal by the Revenue the Tribunal held that the  assessee had only entered into a joint development agreement with promoter and when her share in developed property was sold, she would be benefitted by gain or loss.On facts, assessee would not be liable to be taxed for entering into a joint development agreement when neither assessee had received any consideration nor handed over possession of immovable property during relevant assessment year.  (AY. 2013-14)