Capital gains tax from development agreements is due when possession transfers, not in later years.

Capital gains consequent to the development agreement - year of assessment - A transfer can be said to have taken place in the year when the possession was handed over by the assessee. Thus, capital gains tax, if any, is attracted in the year of agreement and not in the later years. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X