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Execution of Joint Development Agreement doesn’t constitute transfer of capital asset
Case Law Details
- Case Name
- Devi Dayal Vs ITO (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Chandigarh
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Devi Dayal Vs ITO (ITAT Chandigarh)
ITAT Chandigarh held that execution of Joint Development Agreement [JDA] doesn’t constitute transfer of capital asset which would result in earning of capital gain. Accordingly, addition is deleted and appeal is allowed.
Facts- The assessee is in appeal against the order of ld. Commissioner of Income Tax (Appeals) dated 18.05.2024 passed for assessment year 2008-09. The solitary issue before us is whether on entrance of a Joint Development Agreement, would it be construed that assessee has transferred his capital rights in the land which would result in an...
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