https://www.taxtmi.com/caselaws?id=65295 An agreement to sell immovable property did not amount to a completed transfer or deemed transfer for capital gains purposes because the conditions of section 53A of the Transfer of Property Act were not satisfied. Possession was not handed over, the transferee had not shown readiness to perform the reciprocal obligations, and title had not passed through execution and registration of a final conveyance. On that basis, the transaction did not fall within section 2(47)(v) of the Income-tax Act, 1961, and no capital gains arose in the relevant assessment year; the addition was deleted. en-us Fri, 24 Oct 2008 00:00:00 +0530 Thu, 16 Nov 2023 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65295 An agreement to sell immovable property did not amount to a completed transfer or deemed transfer for capital gains purposes because the conditions of section 53A of the Transfer of Property Act were not satisfied. Possession was not handed over, the transferee had not shown readiness to perform the reciprocal obligations, and title had not passed through execution and registration of a final conveyance. On that basis, the transaction did not fall within section 2(47)(v) of the Income-tax Act, 1961, and no capital gains arose in the relevant assessment year; the addition was deleted. Case-Laws Income Tax Fri, 24 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65295