Wherein it is held that the ingredients of section 53A of the Property
Act is satisfied, after the assessee parted with the possession ... assessee is not correct since the
conditions set out in sec. 53A of the Transfer of Property Act are not
complied with. The essential conditions
agreement, the Assessing Officer came to the
conclusion that provisions of section 53A of Transfer of Property Act
were attracted and since the transfer became ... place and not that
of the future asset, therefore, provisions of section 53A are attracted.
After considering the rival stands, we have found that
assessment year 2007-08 in view of the
provisions of sec.53A of the Transfer of Property Act. The
possession of the immovable property ... land was yet to be conveyed to CHD. He
observed that sec.53A of Transfer of Property Act applies in a
case where the immovable
alternately, in terms of section 2(47)(v) of
the Income-tax Act, 1961, read with section 53A of the Transfer
of Property ... character of the
transaction. As the transaction is satisfied under section 53A
-19- ITA 1795 of 2012
of the Transfer of Property
assessment year 2007-08 in view of the
provisions of sec.53A of the Transfer of Property Act. The
possession of the immovable property ... land was yet to be conveyed to CHD. He
observed that sec.53A of Transfer of Property Act applies in a
case where the immovable
rival submissions.
The reason why the A.O. had denied deduction under Section 80-
IB(10) of the Act to the assessee was that assessee ... development of the housing project.
Combined reading of Section 2(47)(v) and Section 53A of the
Transfer of Property Act would lead
transfer of such windmills to the
assessee by virtue of Section 53A of Transfer of Property Act.
Further, according to A.O., the lessors ... there was no transfer of
property coming within the ambit of Section 53A of Transfer of
Property Act by the lease. Ld. CIT(Appeals
Income Tax Officer, v. Shri K. Ram Gopal,
Ward-III(2), No. 53A, III Cross,
Coimbatore. Co-op. Colony,
Uppilipalayam,
Coimbatore-641 015.
(PAN : ABSPR3207R ... instead of ` 17.25 originally adopted by the Assessing
Officer in the order
Assessment Year : 2004-05
Shri V.T.Rajandran, The Income-tax Officer,
53A, Azad Road, Vs. Ward I(2),
Mannargudi-614 001. Nagapattinam.
PAN AAIPR7725F ... arises out of the assessment completed
-2- ITA 1740 of 2011
under section 143(3), read with section 254 of the Income
