Income Tax On Joint Development Agreement

Therefore, the possession and control of the land is already on the assignee and the offending development contract has not been terminated properly and is still in service, it must be decided that there is a transfer u / s 2 (47) (v) of the law. We must see the real intention of the parties. According to the known canon of document construction, intention generally prevails over the obvious and ordinary meaning of the words used and that such construction, based on the word in a document, best corresponds to the intention of the parties. .