Granting of License to Developer doesn’t Amount to possession within Meaning of Section 53A of TP Act, S. 2(47)(v) of Income Tax Act not applicable: Bombay HC [Read Order]

By Yogitha S. Yogesh - On September 28, 2023 2:30 pm - 3 mins read
Granting - License to Developer - Amount - Possession - Meaning - Income Tax Act - Bombay High Court - taxscan

The Bombay High Court granting of license to developer doesn’t amount to possession within meaning of section 53 A of Transfer of Property Act (TP) and Section  2(47)(v) of Income Tax Act,1961 is not applicable. During the assessment proceedings under Section 143(3) of the Act, Darshana Anand Damle, the  Petitioner had filed a copy of…

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