Interpreting "Transfer" in Section 2(47) for Long-Term Capital Gains in Joint Development Agreements: ITAT vs. Karnataka HC.

Long term capital - "transfer" within the meaning of Sec. 2 (47) - implementation of JDA - Decision in the case of ITAT [2018 (10) TMI 1345 - ITAT BANGALORE] followed, and the decision of HC [2012 (6) TMI 405 - KARNATAKA HIGH COURT] distinguished. .....

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