https://www.taxtmi.com/caselaws?id=192034 An unregistered agreement to sell, without contemporaneous consideration and without protection under section 53A of the Transfer of Property Act, did not amount to a transfer under section 2(47)(v), so capital gains were not taxable in assessment year 2008-09; they were correctly brought to tax in assessment year 2011-12. Where the stamp valuation was disputed and the earlier agreement created an encumbrance affecting value, section 50C(2) required reference to the Valuation Officer, and the capital-gains computation had to be re-adjudicated on that basis. en-us Thu, 08 Dec 2016 00:00:00 +0530 Tue, 09 May 2017 20:26:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192034 An unregistered agreement to sell, without contemporaneous consideration and without protection under section 53A of the Transfer of Property Act, did not amount to a transfer under section 2(47)(v), so capital gains were not taxable in assessment year 2008-09; they were correctly brought to tax in assessment year 2011-12. Where the stamp valuation was disputed and the earlier agreement created an encumbrance affecting value, section 50C(2) required reference to the Valuation Officer, and the capital-gains computation had to be re-adjudicated on that basis. Case-Laws Income Tax Thu, 08 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192034