https://www.taxtmi.com/caselaws?id=65058 Where property was agreed to be sold, substantial consideration had been received, and possession had been delivered, the transaction was treated as falling within section 53A of the Transfer of Property Act, 1882, so the transferors were not assessable on the property income merely because the conveyance deed was still unregistered. Interest earned on fixed deposits created out of the sale proceeds was treated as a separate accretion and taxed under income from other sources, not as property income. The assessment was therefore adjusted by deleting the house property addition while sustaining tax on the fixed-deposit interest. en-us Fri, 04 Jul 1986 00:00:00 +0530 Sat, 12 Feb 2011 10:53:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65058 Where property was agreed to be sold, substantial consideration had been received, and possession had been delivered, the transaction was treated as falling within section 53A of the Transfer of Property Act, 1882, so the transferors were not assessable on the property income merely because the conveyance deed was still unregistered. Interest earned on fixed deposits created out of the sale proceeds was treated as a separate accretion and taxed under income from other sources, not as property income. The assessment was therefore adjusted by deleting the house property addition while sustaining tax on the fixed-deposit interest. Case-Laws Income Tax Fri, 04 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65058