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Documents citing Tamil Nadu Brick Industries, Chennai vs Ito, Chennai on 11 May, 2018

Nalapad Properties , Bangalore vs The Deputy Commissioner Of Incomer Tax, ... on 16 August, 2024

7.7 The Chennai ITAT in Tamilnadu Brick Industries v. ITO in ITA No.744/Chny/2017 for the AY 2013-14 dated 11.5.2018 dealt with an issue as to whether a registered GPA along with a JDA conferring entitlement to the developer to sell, convey or deal with the property amount to transfer of property as per Section 2(47)(v) of the IT Act. The assessee in the present case had executed a JDA along with a GPA in favour of the developer on 17 September 2012. The assessee had contended that it had only permitted the developer to enter and exit the property for the purpose of development and therefore, the same shall not be construed as deliver of possession or part performance contemplated under Section 53A of TOPA. The ITAT observed that execution of a GPA in favour of the developer confers the entire possession of the property to the developer and thereby attracts Section 53A of TOPA and therefore, the date of execution of JDA along with GPA must be considered for purposes of Section 2(47)(v) of the IT Act.
Income Tax Appellate Tribunal - Bangalore Cites 81 - Cited by 0 - Full Document

Nalpad Hotels And Convention Centre , ... vs The Deputy Commissioner Of Incomer Tax, ... on 16 August, 2024

7.7 The Chennai ITAT in Tamilnadu Brick Industries v. ITO in ITA No.744/Chny/2017 for the AY 2013-14 dated 11.5.2018 dealt with an issue as to whether a registered GPA along with a JDA conferring entitlement to the developer to sell, convey or deal with the property amount to transfer of property as per Section 2(47)(v) of the IT Act. The assessee in the present case had executed a JDA along with a GPA in favour of the developer on 17 September 2012. The assessee had contended that it had only permitted the developer to enter and exit the property for the purpose of development and therefore, the same shall not be construed as deliver of possession or part performance contemplated under Section 53A of TOPA. The ITAT observed that execution of a GPA in favour of the developer confers the entire possession of the property to the developer and thereby attracts Section 53A of TOPA and therefore, the date of execution of JDA along with GPA must be considered for purposes of Section 2(47)(v) of the IT Act.
Income Tax Appellate Tribunal - Bangalore Cites 81 - Cited by 0 - Full Document

Nalapad Properties , Bangalore vs The Deputy Commissioner Of Incomer Tax, ... on 16 August, 2024

7.7 The Chennai ITAT in Tamilnadu Brick Industries v. ITO in ITA No.744/Chny/2017 for the AY 2013-14 dated 11.5.2018 dealt with an issue as to whether a registered GPA along with a JDA conferring entitlement to the developer to sell, convey or deal with the property amount to transfer of property as per Section 2(47)(v) of the IT Act. The assessee in the present case had executed a JDA along with a GPA in favour of the developer on 17 September 2012. The assessee had contended that it had only permitted the developer to enter and exit the property for the purpose of development and therefore, the same shall not be construed as deliver of possession or part performance contemplated under Section 53A of TOPA. The ITAT observed that execution of a GPA in favour of the developer confers the entire possession of the property to the developer and thereby attracts Section 53A of TOPA and therefore, the date of execution of JDA along with GPA must be considered for purposes of Section 2(47)(v) of the IT Act.
Income Tax Appellate Tribunal - Bangalore Cites 81 - Cited by 0 - Full Document

Nalpad Hotels And Convention Centre , ... vs The Deputy Commissioner Of Incomer Tax, ... on 16 August, 2024

7.7 The Chennai ITAT in Tamilnadu Brick Industries v. ITO in ITA No.744/Chny/2017 for the AY 2013-14 dated 11.5.2018 dealt with an issue as to whether a registered GPA along with a JDA conferring entitlement to the developer to sell, convey or deal with the property amount to transfer of property as per Section 2(47)(v) of the IT Act. The assessee in the present case had executed a JDA along with a GPA in favour of the developer on 17 September 2012. The assessee had contended that it had only permitted the developer to enter and exit the property for the purpose of development and therefore, the same shall not be construed as deliver of possession or part performance contemplated under Section 53A of TOPA. The ITAT observed that execution of a GPA in favour of the developer confers the entire possession of the property to the developer and thereby attracts Section 53A of TOPA and therefore, the date of execution of JDA along with GPA must be considered for purposes of Section 2(47)(v) of the IT Act.
Income Tax Appellate Tribunal - Bangalore Cites 81 - Cited by 0 - Full Document

Amit Kumar Verma,Patna vs Ito, Ward- 6(1), Patna on 4 December, 2025

6.8 The Chennai ITAT in Tamilnadu Brick Industries v. ITO [3] dealt with an issue as to whether a registered GPA along with a JDA conferring entitlement to the developer to sell, convey or deal with the property amount to transfer of property as per Section 2(47)(v) of the IT Act. The assessee in the present case had executed a JDA along with a GPA in favour of the developer on 17 September 2012. The assessee had contended that it had only permitted the developer to enter and exit the property for the purpose of development and therefore, the same shall not be construed as deliver of possession or part performance contemplated under Section 53A of TOPA. The ITAT observed that execution of a GPA in favour of the developer confers the entire possession of the property to the developer and thereby attracts Section 53A of TOPA and therefore, the date of execution of JDA along with GPA must be considered for purposes of Section 2(47)(v) of the IT Act.
Income Tax Appellate Tribunal - Patna Cites 30 - Cited by 0 - Full Document
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