https://www.taxtmi.com/caselaws?id=188737 An irrevocable agreement to sell an undivided share in immovable property, coupled with consideration receipts, powers of attorney, indemnity bonds and part-performance rights, constituted transfer for capital gains purposes under section 2(47)(v) in assessment year 2006-07, not 2007-08, because the later registered sale deed did not postpone the date of transfer. On that basis, the same capital gains having already been disclosed and assessed in scrutiny for the earlier year, the reopening under section 147 lacked a bona fide basis of escapement and could not be sustained. The reassessment was therefore invalid and the assessee obtained full relief. en-us Wed, 31 Jul 2013 00:00:00 +0530 Wed, 14 Dec 2016 16:36:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188737 An irrevocable agreement to sell an undivided share in immovable property, coupled with consideration receipts, powers of attorney, indemnity bonds and part-performance rights, constituted transfer for capital gains purposes under section 2(47)(v) in assessment year 2006-07, not 2007-08, because the later registered sale deed did not postpone the date of transfer. On that basis, the same capital gains having already been disclosed and assessed in scrutiny for the earlier year, the reopening under section 147 lacked a bona fide basis of escapement and could not be sustained. The reassessment was therefore invalid and the assessee obtained full relief. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188737