https://www.taxtmi.com/caselaws?id=180002 For capital gains purposes, transfer of immovable property can occur when possession is delivered in part performance of a qualifying contract under section 2(47)(v) of the Income-tax Act, 1961 read with section 53-A of the Transfer of Property Act, 1882. The later execution of a formal sale deed is not ative if the earlier lease-cum-sale agreement and possession already fixed the transfer date. Applying that principle, the gain was correctly treated as long-term capital gain rather than short-term capital gain, and the Tribunal's view was upheld. en-us Wed, 19 Sep 2007 00:00:00 +0530 Mon, 14 Mar 2016 18:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180002 For capital gains purposes, transfer of immovable property can occur when possession is delivered in part performance of a qualifying contract under section 2(47)(v) of the Income-tax Act, 1961 read with section 53-A of the Transfer of Property Act, 1882. The later execution of a formal sale deed is not ative if the earlier lease-cum-sale agreement and possession already fixed the transfer date. Applying that principle, the gain was correctly treated as long-term capital gain rather than short-term capital gain, and the Tribunal's view was upheld. Case-Laws Income Tax Wed, 19 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180002