https://www.taxtmi.com/caselaws?id=267936 The registered agreement to sell fixed the consideration, the full sale consideration was paid in instalments, and possession was delivered to the purchaser, so the transaction amounted to a transfer under section 2(47)(v) and section 2(47)(vi) of the Income-tax Act read with section 53A of the Transfer of Property Act. Because the property had already been transferred in the earlier financial year, no capital gain arose in the assessment year under appeal. Section 50C could not shift the year of transfer or create taxable transfer in that year. en-us Fri, 05 Jun 2015 00:00:00 +0530 Tue, 17 Nov 2015 05:55:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267936 The registered agreement to sell fixed the consideration, the full sale consideration was paid in instalments, and possession was delivered to the purchaser, so the transaction amounted to a transfer under section 2(47)(v) and section 2(47)(vi) of the Income-tax Act read with section 53A of the Transfer of Property Act. Because the property had already been transferred in the earlier financial year, no capital gain arose in the assessment year under appeal. Section 50C could not shift the year of transfer or create taxable transfer in that year. Case-Laws Income Tax Fri, 05 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267936