Joint development agreemnt.
This query is : Resolved
12 January 2019
Sir, one of our client has entered in to registered JDA, in September 2016 and with the ratio of 50:50, still today the the builder not completed., it will be completed in 2020. The land lord not received any amount from builder.. So when the the capital gain tax has to pay by land lord.
15 January 2019
Disputed area.
I have read several judgments in this matter, and sadly to no avail. Each time I ask the assessee as to which jurisdiction he belongs and then check what the High Court of that jurisdiction has said.
But, basically, the tax authorities take a view that the transfer has taken place when the agreement was made.
[There are many exceptions to this and facts of each case has to be considered.]
I have read several judgments in this matter, and sadly to no avail. Each time I ask the assessee as to which jurisdiction he belongs and then check what the High Court of that jurisdiction has said.
But, basically, the tax authorities take a view that the transfer has taken place when the agreement was made.
[There are many exceptions to this and facts of each case has to be considered.]
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