Development Agreement Case Laws

The complainant`s case is that the company did not pay the full contribution to be paid under the above-mentioned development contract. The applicant does not have a TDR. Applicant that, on October 20, 2011, Respondent No. 1 entered into a development contract duly registered with the applicant and that the development rights provided for in clause (d) of. assigned and transferred. Thus, the case of the conversion of real estate to stock [SIT] results in a capital gain imposed during the year of the transfer/sale of SIT. What is the date of transfer / sale of shares in the context of trading in case of transfer of land (after conversion to SIT) to the developer under JDA? the tax capacity of capital gains in the case of specified agreements. H. Examples of judicial GAAR applied to development agreements: The activity of the developer is the adventure in the nature of the trade and for the owner, it is a simple handing over of the ownership of the country to the developer. Article 45(2) shall not apply to the case of the assessor. The relevant section is Section 2(47)(v) in conjunction with Section 53A of the Transfer of Ownership Act, according to which the transfer takes place in the year in which the JDA was registered, conferring the right of ownership and development activities to be carried out by the developer.

Under section 2 (47) of the Act, transfer includes the possibility of taking possession of immovable property or retaining it in the partial performance of a contract of the nature referred to in section 53A of the Transfer of Ownership Act. . . .