https://www.taxtmi.com/caselaws?id=14208 For capital gains under the Income-tax Act, the operative date of transfer of immovable property is the date of execution of the document, not the date of presentation for registration or completion of registration. Section 45 taxes gains in the previous year in which the transfer occurs, and the statutory meaning of "transfer" in section 2(47) turns on when the transfer becomes operative so that the transferor's rights cease and the transferee's rights arise. Section 47 of the Registration Act, 1908 supports relation back to the date of execution once the document is duly registered. The transfer is therefore treated as effected on execution for section 45 purposes. en-us Fri, 15 Jun 2001 00:00:00 +0530 Mon, 22 Dec 2025 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14208 For capital gains under the Income-tax Act, the operative date of transfer of immovable property is the date of execution of the document, not the date of presentation for registration or completion of registration. Section 45 taxes gains in the previous year in which the transfer occurs, and the statutory meaning of "transfer" in section 2(47) turns on when the transfer becomes operative so that the transferor's rights cease and the transferee's rights arise. Section 47 of the Registration Act, 1908 supports relation back to the date of execution once the document is duly registered. The transfer is therefore treated as effected on execution for section 45 purposes. Case-Laws Income Tax Fri, 15 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14208