2014 (8) TMI 1176

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..... e Tribunal. 2. The substantial question of law which arises for consideration in this appeal is as under: "Whether the Tribunal was correct in holding that capital gains tax would arise in the assessment year 1995-96 when the development agreement was entered into by the assessee with the developer for transfer of 66% interest in undivided immovable property and not when the built up area was c .....

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..... ssessment year 1995-96 when the joint development agreement was entered into by the assessee with the developer for transfer of 66% interest in an undivided immovable property and possession of the land was handed over and not when the built up area was completed and handed over to the assessee in the assessment year 1998-99. Hence, we answer the substantial question of law raised in favour of the .....

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