Entering into Registered JDA is transfer under section 2(47)

Shri. Damodar Reddy Vs ITO (ITAT Bangalore) Conclusion: Since assessee along with his mother and siblings entered into a JDA with M/s. S, which was a registered document, therefore, on entering into JDA, there was a ‘transfer’ as per section 2(47) and consequently capital gain was attracted. Held: Assessee contended that the authorities below failed to appreciate that there was no event of ‘transfer’ as defined in section 2(47)(v) in the case on hand as no possession was handed over to developer after entering into JDA and therefore there was no question of capital gains arisin...