https://www.taxtmi.com/caselaws?id=64596 A binding agreement for transfer of immovable property can trigger capital gains where the owner has conveyed rights and enabled enjoyment of the property, even without registered conveyance or physical possession; the Tribunal therefore sustained the capital gains addition for assessment year 1992-93. By contrast, additions for notional interest and alleged lending income could not stand because the record did not show reliable evidence of actual advances or receipt of interest, and the seized material was unsupported by corroboration or effective confrontation; those income additions were deleted. en-us Tue, 28 Dec 2004 00:00:00 +0530 Thu, 20 Jun 2024 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64596 A binding agreement for transfer of immovable property can trigger capital gains where the owner has conveyed rights and enabled enjoyment of the property, even without registered conveyance or physical possession; the Tribunal therefore sustained the capital gains addition for assessment year 1992-93. By contrast, additions for notional interest and alleged lending income could not stand because the record did not show reliable evidence of actual advances or receipt of interest, and the seized material was unsupported by corroboration or effective confrontation; those income additions were deleted. Case-Laws Income Tax Tue, 28 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64596