https://www.taxtmi.com/caselaws?id=68147 Capital gains could not be charged on the basis of an unregistered agreement to sell and alleged delivery of possession, because transfer of immovable property required a registered conveyance in law. The claimed handing over of possession was not established with certainty on the agreement date, and even if possession had been delivered, it could not by itself substitute for an effective transfer for capital gains purposes. Clause (v) of section 2(47) of the Income-tax Act, 1961, introduced from 1 April 1988, was inapplicable to the assessment year concerned. No taxable transfer was therefore made out in the relevant year. en-us Mon, 22 Aug 1994 00:00:00 +0530 Thu, 17 Mar 2011 12:54:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68147 Capital gains could not be charged on the basis of an unregistered agreement to sell and alleged delivery of possession, because transfer of immovable property required a registered conveyance in law. The claimed handing over of possession was not established with certainty on the agreement date, and even if possession had been delivered, it could not by itself substitute for an effective transfer for capital gains purposes. Clause (v) of section 2(47) of the Income-tax Act, 1961, introduced from 1 April 1988, was inapplicable to the assessment year concerned. No taxable transfer was therefore made out in the relevant year. Case-Laws Income Tax Mon, 22 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68147