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Date of Transfer in JDA when assessees merely entitled to a specified constructed space
Case Law Details
- Case Name
- Atluri Usha Rani Vs Asst. CIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Hyderabad
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Atluri Usha Rani Vs Asst. CIT (ITAT Hyderabad)
I have carefully considered the rival submissions and perused the record. I have also carefully perused the development agreement-cum-GPA. The said agreement shows that the builders and developers have to bear all the expenditure for preparation of the said plan, obtaining licenses, permissions as well as execution of work and thereafter the parties / land owners are entitled to 50% of the built up area; This shows that the assessees are merely entitled to a specified constructed space and not 50% of the land. The builders have ta...
