Income Tax Act, 1961 (in short, "the Act").
"1. The order of the Commissioner (Appeal) is bad in law and on facts ... transfer u/s. 2(47) of the Act. The
Registration Act, 1908 and Transfer of Property Act amended with effect
from 24.09.2001. By virtue
Act r.w.s 53 A of the
TP Act on account of JDA should have been worked out based ... Purchase to the date of JDA and therefore, the provision of section 45(2) of the
Act is not applicable
area as agreed
between the parties in the JDA dated 30.12.2015. As per
the JDA between the parties, the possession of the property
has been ... Transfer of Property Act, 1882 . Further, as per the JDA
between the parties, no consideration has been paid
including any goodwill or refundable deposit. Therefore
pointed out that the developer did not do any act
in furtherance of the JDA in previous year relevant ... held that the mere entering into a JDA
without any consideration at the time of the JDA as well as
without handing over
seizure operation
under section 132 of the Income Tax Act, 1961 ("the Act") was
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conducted in the case of Vasavi Group, Hyderabad ... Act so as to attract
taxation under section 45 of the Act in the year of execution of
the JDA. The Ld. AR placed reliance
seizure operation under section 132
of the Income Tax Act, 1961 ("the Act") was conducted on
09.08.2018 in the case of the assessee along ... Act and that capital gains under
section 45(1) of the Act arose in the year of execution of the JDA.
Accordingly
seizure operation
under section 132 of the Income Tax Act, 1961 ("the Act") was
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conducted in the case of Vasavi Group, Hyderabad ... Act so as to attract
taxation under section 45 of the Act in the year of execution of
the JDA. The Ld. AR placed reliance
Competent Authority u/sec.151 of the Act, issued
notice u/s.148 of the Act dated 18.05.2016 to the assessee
calling her to file ... Act, the assessee filed return of income
declaring Rs.NIL by claiming exemption u/ sec.54F of the
Act which is out of the JDA
seizure operation under section
132 of the Income Tax Act, 1961 ("the Act") was conducted on
09.08.2018 in the case of the assessee ... Act and that
capital gains under section 45(1) of the Act arose in the year of
execution of JDA itself. The Ld. AO computed
from the period specified under the Act, and thus,
not entitled for deduction under section 54F of the Act. Therefore,
the ld.CIT(A) rejected ... transfer of property pursuant to the JDA. The appellant has sold
3 flats received pursuant to the JDA within 3 years from the date
