https://www.taxtmi.com/caselaws?id=9745 An unregistered lease arrangement can still amount to a transfer for capital gains purposes where it has the effect of transferring or enabling enjoyment of immovable property, so capital gains could arise on that basis. However, the finding on alleged receipt of pakidi could not be sustained because the assessees were not confronted with the tenant's sworn statement, and reliance on such adverse material without giving an opportunity to meet it offended natural justice. The assessment was therefore set aside on that aspect and remitted for fresh adjudication after hearing both sides. en-us Tue, 06 Jun 2006 00:00:00 +0530 Tue, 30 Jun 2009 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9745 An unregistered lease arrangement can still amount to a transfer for capital gains purposes where it has the effect of transferring or enabling enjoyment of immovable property, so capital gains could arise on that basis. However, the finding on alleged receipt of pakidi could not be sustained because the assessees were not confronted with the tenant's sworn statement, and reliance on such adverse material without giving an opportunity to meet it offended natural justice. The assessment was therefore set aside on that aspect and remitted for fresh adjudication after hearing both sides. Case-Laws Income Tax Tue, 06 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9745