No Capital Gains on JDA Without Consideration or Transfer of Possession: ITAT Hyderabad

Sahodhar Reddy Muddasani Vs DCIT (ITAT Hyderabad) No Capital Gains on JDA Without Consideration or Transfer of Possession: ITAT Hyderabad Deletes Addition u/s 45 The Hyderabad Bench of the ITAT deleted the addition of ₹3.65 lakh made towards long-term capital gains, holding that mere execution of a Joint Development Agreement (JDA) does not give rise to a taxable transfer unless consideration is received or possession is handed over in the manner contemplated under law. The assessee, along with other co-owners, had entered into a JDA with a developer. The Assessing Officer treated the execut...