https://www.taxtmi.com/caselaws?id=214962 The case involved the taxability of an amount yet to be received by the assessee as capital gains under Sections 45 and 48 of the Income Tax Act. The Income Tax Appellate Tribunal (ITAT) held that the entire sale consideration, including the future payment, was taxable as capital gains in the year of transfer. The ITAT emphasized the deeming fiction in Section 45(1) and rejected the applicability of cited precedents. The High Court affirmed the ITAT's decision, dismissing the appeal as no substantial question of law arose for consideration. en-us Mon, 16 Jul 2012 00:00:00 +0530 Fri, 20 Jul 2012 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214962 The case involved the taxability of an amount yet to be received by the assessee as capital gains under Sections 45 and 48 of the Income Tax Act. The Income Tax Appellate Tribunal (ITAT) held that the entire sale consideration, including the future payment, was taxable as capital gains in the year of transfer. The ITAT emphasized the deeming fiction in Section 45(1) and rejected the applicability of cited precedents. The High Court affirmed the ITAT's decision, dismissing the appeal as no substantial question of law arose for consideration. Case-Laws Income Tax Mon, 16 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214962