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Development Agreement

Capital Gains Taxation Should Be Based on Receipt of Possession, Not Occupancy Certificate: ITAT [Read Order]

Sneha Sukumaran Mullakkal

Alagappa Muthiah (HUF), the appellant assessee, co-owned 6 acres 23.2 guntas of land in Hebbal Village. On 10/02/2011, he entered into a Development...

Incidence of Tax for Joint Development Agreement is Different from Incidence of Tax for Subsequent...

Capital Gain Exemption u/s 54B can be claimed without filling of Income Tax Return: ITAT [Read...

Permission under Development Agreement for Construction, not Transfer under Income Tax Act: Bombay...

CESTAT quashes Service Tax demand on consideration received by Developers from Co-development...

Permissible Possession given to Developer for Construction does not constitute 'Transfer': ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that permissible possession given to a developer for construction does not constitute a transfer. The assessee, Pankaj...

No Capital Gain in the Year of entering into Development Agreement where No Actual Allotment took Place: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the tax liability for capital gain cannot arise in the year in which the assessee entered into a development agreement where there...

Handing Over of Possession under Development Agreement would amount to ‘Transfer’ for attracting Capital Gain Tax: ITAT [Read Order]

The Hyderabad bench of ITAT confirmed that handing over of possession under development agreement would amount to ‘Transfer’ for attracting capital gain tax. A single judge bench of Accountant member...

Assessee eligible for Benefit of Sec 54F since Gain on entering into the Development Agreement is LTCG: ITAT [Read Order]

The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) recently ruled that Assessee eligible for getting the benefit of section 54F of the Income Tax Act 1961 since the gain on entering into the...