on Act 1908,S.17(IA), Transfer property Act 1882, S.53A]
Allowing the appeal of the assessee, the Tribunal held that ; Transfer of development rights as per share holder agreement with financial partner for development of integrated township by unregistered agreements , no liability of tax could be fastened on assessee on basis that possession of land had been handed over. ( AY. 2008 -09, 2012-13 )
Saamag Developers (P.) Ltd. v. ACIT (2018) 168 ITD 649 (Delhi) (Trib.)
S. 2(47)(v): Transfer –Development rights – Transfer of development rights as per share holder agreement with financial partner for development of integrated township by unregistered agreements , no liability of tax could be fastened on assessee on basis that possession of land had been handed over. [ S.28(i), 45, Registration Act 1908,S.17(IA), Transfer property Act 1882, S.53A]