https://www.taxtmi.com/caselaws?id=189091 Tenancy rights are not treated as transferred for capital gains merely because a tripartite agreement contemplates a future surrender and staged payment. Where the agreement remains executory, possession has not passed, the assessee continues in occupation and rent payment, and the purchaser confirms no possession was delivered, section 53A of the Transfer of Property Act and section 2(47)(v) of the Income-tax Act do not apply. The capital gains addition was therefore deleted. As the disputed demand arose only from that addition and no advance tax liability survived in view of brought-forward and current losses, interest under sections 234B and 234C was also cancelled. en-us Thu, 07 Oct 1999 00:00:00 +0530 Tue, 27 Dec 2016 17:41:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189091 Tenancy rights are not treated as transferred for capital gains merely because a tripartite agreement contemplates a future surrender and staged payment. Where the agreement remains executory, possession has not passed, the assessee continues in occupation and rent payment, and the purchaser confirms no possession was delivered, section 53A of the Transfer of Property Act and section 2(47)(v) of the Income-tax Act do not apply. The capital gains addition was therefore deleted. As the disputed demand arose only from that addition and no advance tax liability survived in view of brought-forward and current losses, interest under sections 234B and 234C was also cancelled. Case-Laws Income Tax Thu, 07 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189091