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TMI Blog2015 (8) TMI 1099X X X X Extracts X X X X X X X X Extracts X X X X ..... he transferor to the transferee of the entire land in part performance of JDA dated 25.2.2007 so as to fall within the domain of Section 53A of 1882 Act. The possession delivered, if at all, was as a licencee for the development of the property and not in the capacity of a transferee. Section 53A of 1882 Act, by incorporation, stood embodied in section 2(47)(v) of the Act and all the essential ingredients of Section 53A of 1882 Act were required to be fulfilled. In the absence of registration of JDA dated 25.2.2007 having been executed after 24.9.2001, the agreement does not fall under Section 53A of 1882 Act and consequently Section 2 (47)(v) of the Act does not apply. The issue of exigibility to capital gains tax having been decided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n ITA No.161 of 2014 necessary for the decision of the controversy involved may be noticed. The appellant, an individual is a member of M/s Defence Services Cooperative House Building Society Limited (in short, the Society'), Mohali consisting of various members. The society is owner of 27.3 acres of land in Village Kansal in District Mohali. The members of the society had been allotted plots measuring 500 and 1000 square yards. The appellant is having a plot measuring 500 square yards. A resolution was passed by the Executive Committee of the society that all the members would surrender their rights in the property to the society and the society would enter into an agreement on behalf of the members with M/s Tata Housing Development C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10, revised computation of income was filed by the appellant during the assessment proceedings declaring income of ₹ 22,50,730/- which included capital gains on the consideration of advances and part payment under the JDA. On 17.2.2010, notice under Section 148 of the Act was issued to the appellant. The appellant filed written reply to the notice on 26.3.2010 stating therein that revised return already filed on 1.1.2010 be treated in response to the notice. On 5.5.2010, the appellant filed computation of income before the Assessing Officer declaring income of ₹ 22,50,730/- from salary, business income and long term capital gain. On 27.12.2010, Annexure A.1, assessment order was passed for the assessment year 2008-09 under Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 26.3.2012, this court in CWP No.20425 of 2010 directed the developers to obtain additional permission under the Punjab New Capital (Periphery) Control Act, 1952. Vide order dated 14.5.2012, this Court in CWP No.18253 of 2009 ordered stay of construction in the entire catchment area of Sukhna Lake as per survey of India record which also covered the project under consideration. The court also ordered for demolition of any structure after 11.3.2011. Status quo was granted by the Apex Court vide order dated 22.5.2012 wherein the court directed that no construction should be undertaken in the area in question. Vide order dated 7.3.2013, Annexure A.2, the CIT(A) dismissed the appeal filed by the appellant relying upon the order passed in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tively would reveal that the parties had agreed for pro-rata transfer of land. 2. No possession had been given by the transferor to the transferee of the entire land in part performance of JDA dated 25.2.2007 so as to fall within the domain of Section 53A of 1882 Act. 3. The possession delivered, if at all, was as a licencee for the development of the property and not in the capacity of a transferee. 4. Further Section 53A of 1882 Act, by incorporation, stood embodied in section 2(47)(v) of the Act and all the essential ingredients of Section 53A of 1882 Act were required to be fulfilled. In the absence of registration of JDA dated 25.2.2007 having been executed after 24.9.2001, the agreement does not fall under Section 53A o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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