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Mere license for development of property will not attract capital gain tax liability : HC
Case Law Details
- Case Name
- Bikramjit Singh Gill Vs CIT (Punjab & Haryana High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Punjab and Haryana HC
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Brief of the Case
Punjab & Haryana High Court held In the case of Bikramjit Singh Gill vs. CIT that no possession had been given by the transferor to the transferee of the entire land in part performance of Joint development Agreement (JDA) dated 25.2.2007. The possession delivered, if at all, was as a licencee for the development of the property and not in the capacity of a transferee.
Facts of the Case
The appellant, an individual is a member of M/s Defence Services Cooperative House Building Society Limited Mohali consisting of various members. The society is owner of 2...
