Commissioner Of Income Tax vs Dr. V.V. Mody on 30 October, 1995
), the Court took note of the decision in the case
of V.V. Mody (supra) and after noting that the said decision refers to the
insertion of sub-Clause (v) to Section 2(47) of the Act, held that insertion of
sub-Clause (v), which provides that any transaction involving allowing of the
possession of any immovable property to be taken or retained in part
performance of a contract of the nature referred to in Section 53A of the TP
Act, will also come within the ambit of transfer is relevant."