Mere license to enter property to carry out development cannot be treated as Transfer in JDA

Smt. Lakshmi Swarupa Vs ITO (ITAT Banglore)

In the present case, the clause in the JDA regarding possession clearly states that what is given is not possession contemplated u/s. 53A of the Transfer of Property Act and that it is merely a license to enter the property for the purpose of carrying out development. Further, the subsequent MOU dated 16.8.2006 and delivery of legal possession on 22.4.2006 clearly shows that there was no transfer within the meaning of Sec.2(47)(v) of the Act during the previous year relevant to AY 2006-07.

Therefore, in

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