Transfer U/s. 2(47)(v) when GPA & JDA registered entitling developer to sell etc.

M/s. Tamilnadu Brick Industries Vs ITO (ITAT Chennai) Once registered GPA and JDA confers entitlement to developer to sell, convey or deed in any manner with 60% undivided share, etc., it would be construed nothing but transfer of property being land within meaning of section 2(47)(v). FULL TEXT OF THE ITAT JUDGMENT This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals) 9, Chennai, dated 27.02.2017 relevant to the assessment year 2013-14. The assessee has raised the following grounds: “1. The order of The Commissioner of Income Tax (Ap...