JDA Not a Transfer Without Consideration & Possession : Capital Gains Addition Deleted

Manohar Reddy Cheruku Vs DCIT (ITAT Hyderabad) ITAT Hyderabad — No Transfer Under JDA in Absence of Consideration & Possession u/s 53A The assessee executed a Joint Development Agreement on 19.01.2016 but had not received any consideration whatsoever during the year. The possession, if any, was given only for the limited purpose of facilitating the developer to undertake construction, and not in the nature of possession contemplated under section 2(47)(v) read with section 53A of the Transfer of Property Act. The Ld. AO invoked section 45(1) and made an addition of Rs. 3,65,904/- tow...