https://www.taxtmi.com/caselaws?id=13862 The High Court of Andhra Pradesh dismissed the Revenue's appeal in an income-tax case involving a property developer's treatment of profits from construction and sale of flats. The Court upheld the Tribunal's decision to compute income based on possession of flats handed over to buyers, following principles from a Calcutta High Court judgment. Emphasizing the necessity of ownership transfer through registered instruments for tax assessment, the Court ruled that income should be attributed to the developer until conveyance deeds are executed, affirming that no legal question arose from the Tribunal's decision. en-us Thu, 26 Jul 2001 00:00:00 +0530 Fri, 03 Jul 2009 13:11:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13862 The High Court of Andhra Pradesh dismissed the Revenue's appeal in an income-tax case involving a property developer's treatment of profits from construction and sale of flats. The Court upheld the Tribunal's decision to compute income based on possession of flats handed over to buyers, following principles from a Calcutta High Court judgment. Emphasizing the necessity of ownership transfer through registered instruments for tax assessment, the Court ruled that income should be attributed to the developer until conveyance deeds are executed, affirming that no legal question arose from the Tribunal's decision. Case-Laws Income Tax Thu, 26 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13862