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Section 2(47) Not Applicable Due to Unregistered Deed & Lack of Possession
Case Law Details
- Case Name
- ACIT Vs Jawaharlal L. Agicha (ITAT Mumbai)
- 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 Mumbai
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ACIT Vs Jawaharlal L. Agicha (ITAT Mumbai)
A tax dispute involving a Mumbai-based assessee, Jawaharlal L. Agicha, and the Revenue department has brought to the forefront complexities surrounding capital gains taxation arising from development agreements concerning slum-occupied land. The central issue revolves around whether a development agreement, particularly one related to slum redevelopment, constitutes a “transfer” for the purpose of capital gains under the Income Tax Act, 1961 (hereinafter “the Act”). The dispute reached the Income Tax Appellate Tribunal (ITAT) a...
