https://www.taxtmi.com/caselaws?id=69634 For gift-tax purposes, a transfer of immovable property is complete only when executed through a registered instrument under the statutory scheme in the Gift-tax Act read with section 123 of the Transfer of Property Act. Mere agreement to sell, delivery of possession, part performance, or adjustment of consideration does not by itself complete the transfer. The extended concept of transfer under section 53A of the Transfer of Property Act does not alter this position. On the facts discussed, the property transfer was completed only on execution and registration of the sale deed in November 1989, so the deemed gift arose at that time and was taxable in assessment year 1990-91. en-us Tue, 29 Jan 2002 00:00:00 +0530 Mon, 11 Apr 2011 11:27:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69634 For gift-tax purposes, a transfer of immovable property is complete only when executed through a registered instrument under the statutory scheme in the Gift-tax Act read with section 123 of the Transfer of Property Act. Mere agreement to sell, delivery of possession, part performance, or adjustment of consideration does not by itself complete the transfer. The extended concept of transfer under section 53A of the Transfer of Property Act does not alter this position. On the facts discussed, the property transfer was completed only on execution and registration of the sale deed in November 1989, so the deemed gift arose at that time and was taxable in assessment year 1990-91. Case-Laws Income Tax Tue, 29 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69634