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Sahodhar Reddy Muddasani,Hyderabad vs Dcit, Central Circle-1(3), Hyderabad on 16 January, 2026
cites
Section 2 in The Transfer Of Property Act, 1882 [Entire Act]
Section 45 in The Transfer Of Property Act, 1882 [Entire Act]
Section 153A in The Income Tax Act, 1961 [Entire Act]
Section 132 in The Income Tax Act, 1961 [Entire Act]
Sri Nadella Venkata Nageswara Rao,, ... vs The Dcit,, Vijayawada on 20 December, 2017
8. On a perusal of the above, we find that the Hon'ble High
Court after considering the judgment in Potla Nageswara Rao
(supra), has held that unless consideration is received or
accrues to the assessee, or unless possession is handed over
in the manner contemplated under section 53A of the Transfer
of Property Act, no transfer can be said to have occurred for
the purpose of section 45 of the Act. In the present case, the
revenue has not brought on record any material to show that
the assessee received any consideration, monetary or
otherwise, during the year of execution of JDA; or the assessee
handed over possession to the developer otherwise than for
the limited purpose of development. In absence of such
essential conditions, the very foundation of invoking section
45(1) of the Act in the year of JDA fails.
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