No Capital Gains on JDA Amid Family Dispute; Additions Based on Statement Alone Unsustainable – ITAT Bangalore

Bileshivale Muddanna Govardhana Murthy Vs DCIT (ITAT Bangalore) No Capital Gains on JDA Amid Family Dispute; Additions Based on Statement Alone Unsustainable – ITAT Bangalore In this case, the ITAT Bangalore delivered a detailed ruling covering multiple issues across two assessment years. (1) Capital Gains on Joint Development Agreement (JDA): The Tribunal held that no transfer occurred under Section 2(47) in the year of entering into the JDA. Although extensive rights and GPA were granted to the developer, subsequent family disputes and a civil court partition decree materially altered ...