Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!
Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!
The principal notification was published in the Gazette of India, Extraordinary, part-II, Section-3, Sub-section (i), vide number G.S.R. 87(E),dated the 5th February, 1986 and subsequently amended by notification number 42/89-Customs (NT), dated 30th June ,1989, number G.S.R. 31(E), dated the 25th January,1993, number G.S.R.99(E), dated the 1st March,1995, Number G.S.R. 120 (E), dated the 11th March, 1996, number G.S.R. 671 (E), dated the 12th November, 1998, number GSR 117 (E), dated 16th February, 2004 and was last amended by number G.S.R.226 (E), dated11th April 2005.
11. Keeping in view the nature of the transaction between the Assessee and the so called Developer, coupled with the transfer and the possession of the immovable properties, we find that the transaction amounts to conveyance in favour of the purchaser of the properties and the transfer was completed on the date when the purchases were executed and possession was handed over.
