No Capital Gains on Mere Joint Development Agreement Without Possession: ITAT Hyderabad

ACIT Vs Lakshmi Technosolutions Private Limited (ITAT Hyderabad)

Joint Development Agreements: ITAT Reiterates Possession & Consideration Are Key for Taxability- Registered JDA Without Possession Not Transfer u/s 2(47)(v): ITAT Hyderabad- No Transfer on Mere JDA – Capital Gains Tax Only When Flats Sold

The dispute arose from a Joint Development Agreement (JDA) dated 16.12.2013 between Lakshmi Technosolutions Pvt Ltd & M/s Sri Balajee Nirman & Estates. Under the JDA, Assessee was to receive 47.5% of the built-up area while the developer retained

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