Unregistered Joint Development Agreements Lack Legal Standing for Property Transfer u/s 53A of the Transfer of Property Act.

Capital gain - transfer u/s 2(47) - unregistered JD agreement - appellant had not received any consideration - since an unregistered agreement involving the transfer of possession of an immovable property would not qualify as a contract of the nature referred to u/s 53A of the TP Act, no transfer could be presumed based upon an unregistered agreement. - In order to qualify as a transfer of a capital asset under Section 2(47)(v) of the IT Act, there must be a contract that could be enforced in law under Section 53A of the TP Act. - HC .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X