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Income Tax - Highlights / Catch Notes

Home Highlights December 2023 Year 2023 This

Capital gain - Joint Development agreement (JDA) - Transfer / ...

Income Tax

December 30, 2023

Capital gain - Joint Development agreement (JDA) - Transfer / sale of land u/s 2(47)(v) or not? - - the said execution of land development agreement cannot be a sale of land in favour of the builder within the meaning of section 2(47)(v) as only construction was allowed to be done by the builders after obtaining necessary approvals from competent authorities and, therefore, the capital gain has wrongly been computed and charged to tax. - AT

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