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Mere license to enter property to carry out development cannot be treated as Transfer in JDA
Case Law Details
- Case Name
- Smt. Lakshmi Swarupa Vs ITO (ITAT Banglore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Bangalore
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Smt. Lakshmi Swarupa Vs ITO (ITAT Banglore)
In the present case, the clause in the JDA regarding possession clearly states that what is given is not possession contemplated u/s. 53A of the Transfer of Property Act and that it is merely a license to enter the property for the purpose of carrying out development. Further, the subsequent MOU dated 16.8.2006 and delivery of legal possession on 22.4.2006 clearly shows that there was no transfer within the meaning of Sec.2(47)(v) of the Act during the previous year relevant to AY 2006-07.
Therefore, invocation of the provisions of S...
