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2014 (9) TMI 91 - BOMBAY HIGH COURTApplicability of Section 2(47)(v) – Transfer of rights in property - Held that:- Assessee's own stand is that the developer's took possession of the land and started development work - This was during the relevant period and the subject assessment year - the transaction is of Transfer of the rights in the property and to the extent of the assessee's share – thus, the order of the Tribunal is upheld that Section 2(47) (v) is squarely attracted in the facts and circumstances of the present case – Decided against assessee.
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