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No Capital Gains on JDA Without Consideration or Transfer of Possession: ITAT Hyderabad
Case Law Details
- Case Name
- Sahodhar Reddy Muddasani Vs DCIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Hyderabad
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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 t...
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