Immovable property - Definition / Legal Terminology - Income Tax

Immovable Property Explanation (ii) -For the purposes of section 194LA of the Income tax Act 1961- immovable property means- Any land (other than agri cultural land) or any building or part of a building. As per section 269A(e) of the Income tax Act 1961. In the Chapter XX-A (acquisition of immovable properties in certain cases of transfer to counteract evasion of tax) , unless the context otherwise requires,- immovable property means,- (i) any land or any building or part of a building, and includes, where any land or any building or part of a building is transferred together with any machinery, plant, furniture, fittings or other things, such machinery, plant, furniture, fittings or other things also. Explanation .-For the purposes of this sub-clause, land, building, part of a building, machinery, plant, furniture, fittings and other things include any rights therein ; (ii) any rights of the nature referred to in clause (b) of sub-section (1) of section 269AB ; As per section 269(UA)(d) of the Income tax Act 1961. In the Chapter XX-C (purchase by central government of immovable properties in certain cases of transfer) , unless the context otherwise requires, ''immovable property' ' means (i) any land or any building or part of a building, and includes, where any land or any building or part of a building is to be transferred together with any machinery, plant, furniture, fittings or other things, such machinery, plant, furniture, fittings or other things also. Explanation. - For the purposes of this sub-clause, land, building, part of a building, machinery, plant, furniture, fittings and other things include any rights therein ; (ii) any rights in or with respect to any land or any building or a part of a building (whether or not including any machinery, plant, furniture, fittings or other things therein) which has been constructed or which is to be constructed, accruing or arising from any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, company or other association of persons or by way of any agreement or any arrangement of whatever nature), not being a transaction by way of sale, exchange or lease of such land, building or part of a building ; Explanation.(b) - For the purposes of section 194IA of the Income tax Act 1961- immovable property means- any land, other than agricultural land or any building or part of a building.