Deemed transfer if assessee enters into a development agreement with builder to develop and sell bu

IT: Where in terms of joint development agreement of land, assessee executed a power of attorney in favour of representative of builder agreeing to authorize him to execute sale of built-up area, even though builder could not subsequently complete said agreement, in view of fact that substantial construction had already been completed, transfer took place within meaning of section 2(47) and, thus, assessee was liable to pay capital gain tax on such transfer