https://www.taxtmi.com/caselaws?id=12868 The court affirmed the Tribunal's decision that an agreement to sell with possession delivery does not constitute a transfer for capital gain liability. It held that capital gain arises only upon execution of conveyance deeds. The court determined that the cost of acquisition for capital gain calculation remains the original purchase price, rejecting the notion of using the conversion date to non-agricultural use. This decision aligns with previous rulings where the cost of acquisition was based on the original purchase cost, not the conversion date. en-us Wed, 25 Jul 2001 00:00:00 +0530 Fri, 22 May 2009 16:03:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12868 The court affirmed the Tribunal's decision that an agreement to sell with possession delivery does not constitute a transfer for capital gain liability. It held that capital gain arises only upon execution of conveyance deeds. The court determined that the cost of acquisition for capital gain calculation remains the original purchase price, rejecting the notion of using the conversion date to non-agricultural use. This decision aligns with previous rulings where the cost of acquisition was based on the original purchase cost, not the conversion date. Case-Laws Income Tax Wed, 25 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12868