Tag: Joint development agreement
Capital gain tax in JDA is in the year of receipt of constructed area and not in year of entering into joint development agreement – ITAT In a recent judgment, ITAT has confirmed that capital gain tax in the case of a joint development agreement is in the …
GST applicability on work executed under JDA on land owner’s portion on the value at the time of transfer of possession of land owner’s’ portion of flats-AAR Ruling ABCAUS Case Law Citation:ABCAUS 3115 (2019) (08) AAR Important case law relied upon by the parties:Vaswani Estates Developers Pvt. Ltd …
Section 45(5A) is prospective in nature not retrospective. The section provides that the date of handover of the possession is the criteria to consider capital gains and not the date of agreement. ABCAUS Case Law Citation: ABCAUS 2943 (2019) (05) ITAT Important Case Laws Cited/relied upon by the …
JDA taxation-no capital gain when possession not handed over to builder and only right to enter the property given to demolish and re-construction ABCAUS Case Law Citation: ABCAUS 2498 (2018) 08 ITAT The aforesaid appeal was filed by the assessee against impugned order passed by CIT (Appeals) in …
Roads and common facilities area in land development agreement also part of assessee’s share in land for capital gain purpose and had to be in the same ratio-ITAT ABCAUS Case Law Citation: ABCAUS 2275 (2018) (04) ITAT The Assessing Officer (AO) had the information that the assessee and …
Supreme Court explains the concept of income tax on Joint development agreement and applicability u/s 2(47) and section 45 and 48 where the JDA was not registered and was abandoned In an important judgment, Supreme Court has explained the concept of income tax on Joint development agreement and …
