https://www.taxtmi.com/caselaws?id=192964 For capital gains purposes, a registered sale deed is not conclusive where contemporaneous evidence shows that operative transfer and accrual of consideration were subject to a condition precedent. The Tribunal found that the balance sale price was covered by a post-dated or undated cheque, the purchaser's affidavit linked possession to full payment, and the surrounding circumstances showed the transaction was not finally completed on registration alone. Capital gains were therefore not taxable in assessment year 2007-08 on the entire consideration, and taxability had to be examined in the year when the balance amount was actually realised, namely assessment year 2009-10. en-us Wed, 17 Aug 2016 00:00:00 +0530 Thu, 06 Jul 2017 08:23:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192964 For capital gains purposes, a registered sale deed is not conclusive where contemporaneous evidence shows that operative transfer and accrual of consideration were subject to a condition precedent. The Tribunal found that the balance sale price was covered by a post-dated or undated cheque, the purchaser's affidavit linked possession to full payment, and the surrounding circumstances showed the transaction was not finally completed on registration alone. Capital gains were therefore not taxable in assessment year 2007-08 on the entire consideration, and taxability had to be examined in the year when the balance amount was actually realised, namely assessment year 2009-10. Case-Laws Income Tax Wed, 17 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192964