Allowing the appeal of the revenue , the Tribunal held that , in respect of joint development agreement , Capital gains is taxable in the year in which possession was handed over and not in the year in which the project was completed . As regards the applicability of S.54F the matter was remanded to CIT(A). ( AY. 2009 10 , 2010-11)
ITO v. Dr. Arvind Goverdhan. (2018) 61 ITR 159 (Bang) (Trib) ITO v. Monica Goverdhan ( Mrs) (2018) 61 ITR 159 (Bang) (Trib) ITO v Margrift Goverdhan( Mrs) (2018) 61 ITR 159 (Bang) (Trib) ITO v. Anitha Goverdhn ( Mrs) (2018) 61 ITR 159 (Bang) (Trib)
S. 45:Capital gains — Transfer — Development agreement- Capital gains is taxable in the year in which possession was handed over and not in the year in which the project was completed [ S. 54, 54F ]