https://www.taxtmi.com/caselaws?id=13830 A mortgage by conditional sale remains a mortgage, not an outright transfer, while the repayment condition continues to subsist under section 58(c) of the Transfer of Property Act. The mortgagor retains title until the condition fails and foreclosure occurs, so no completed transfer arises on execution of the mortgage deed. For capital gains purposes under section 2(47) of the Income-tax Act, transfer is triggered only when the mortgage becomes absolute on foreclosure, and capital gains can arise only in that later year. en-us Wed, 22 Nov 2000 00:00:00 +0530 Fri, 03 Jul 2009 11:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13830 A mortgage by conditional sale remains a mortgage, not an outright transfer, while the repayment condition continues to subsist under section 58(c) of the Transfer of Property Act. The mortgagor retains title until the condition fails and foreclosure occurs, so no completed transfer arises on execution of the mortgage deed. For capital gains purposes under section 2(47) of the Income-tax Act, transfer is triggered only when the mortgage becomes absolute on foreclosure, and capital gains can arise only in that later year. Case-Laws Income Tax Wed, 22 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13830