High Court of Karnataka Dismisses Revenue's Appeal in Capital Gains Tax Case — Transfer of Development Rights Not a Transfer Under Section 2(47) of Income Tax Act, 1961. The court held that a Joint Development Agreement does not constitute a transfer of the capital asset, and capital gains tax is not chargeable until the sale deed is executed.
19 Mar 2015The case involves appeals filed by the Revenue under Section 260-A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Trib...




