If the possession given by the landowners to the developer was only for the limited purpose of development and that no consideration had been received during the year of execution of the JDA, no taxable capital gains arose under section 45(1) of the Act in that year.

Since the instalment amount was below 1crore, the minimum threshold prescribed under the IBC, it was argued that the insolvency application was not maintainable

Since the instalment amount was below 1crore, the minimum threshold prescribed under the IBC, it was argued that the insolvency application was not maintainable