https://www.taxtmi.com/caselaws?id=14325 Transfer of an allottee's rights was treated as effective on execution of the lease deed, not on later registration, because a registered document operates from the date it would have operated if registration were unnecessary under section 47 of the Registration Act. Capital gains was therefore not leviable on the later registration date. A provision for staff gratuity was allowed under section 37(1) on the mercantile basis for the assessment year in question, as the claim preceded the retrospective insertion of section 40A(7) and the amount was treated as deductible in the assessee's hands. en-us Wed, 10 Jan 2001 00:00:00 +0530 Wed, 15 Jul 2009 12:20:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14325 Transfer of an allottee's rights was treated as effective on execution of the lease deed, not on later registration, because a registered document operates from the date it would have operated if registration were unnecessary under section 47 of the Registration Act. Capital gains was therefore not leviable on the later registration date. A provision for staff gratuity was allowed under section 37(1) on the mercantile basis for the assessment year in question, as the claim preceded the retrospective insertion of section 40A(7) and the amount was treated as deductible in the assessee's hands. Case-Laws Income Tax Wed, 10 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14325