Transfer u/s 2(47) completes only when conditions of sec 53A of transfer of property act gets fulfilled

Brief of the case:

The assessee was the member on the co-operative society who was the owner of 21.2 acres of land and the assessee being a member was allotted one plot and the society hired one builder and entered into a JDA (Joint development agreement), not registered, that builder would develop the land and it would be given the development rights in consideration. But in between after the half of the land was developed, the builder refused to develop further.

The

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