https://www.taxtmi.com/caselaws?id=219316 The Tribunal held that the entire sale consideration should be taxed in the year of transfer under Section 45(1) of the Income Tax Act, rejecting the assessee's argument for taxing only the received amount. It found that the CIT(A) erred in admitting additional evidence without allowing the AO to examine it, leading to the issue being remanded to the AO for a fair reevaluation of the capital gains tax liability. The Revenue's appeal was allowed for statistical purposes. en-us Wed, 18 Jul 2012 00:00:00 +0530 Tue, 11 Dec 2012 08:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219316 The Tribunal held that the entire sale consideration should be taxed in the year of transfer under Section 45(1) of the Income Tax Act, rejecting the assessee's argument for taxing only the received amount. It found that the CIT(A) erred in admitting additional evidence without allowing the AO to examine it, leading to the issue being remanded to the AO for a fair reevaluation of the capital gains tax liability. The Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 18 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219316