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 ‘transferâ

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