Property Transferred to Developer under Joint Development Agreement not subject to Wealth Tax: Karnataka HC [Read Judgment]

Property - Joint Development Agreement - Wealth Tax - Karnataka HC - taxscan

A division bench of the Karnataka High Court consisting of Justices P.S. Dinesh Kumar and Anant Ramanath Hegde has held that the assessee was not liable to pay Wealth Tax with respect to a property, despite transferring possession of the said property to a developer under a Joint Development Agreement. Overruling an order of the…

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