https://www.taxtmi.com/caselaws?id=367427 An unregistered agreement for sale did not amount to a transfer under section 2(47)(v) because possession was never handed over, full consideration was not paid, and the agreement was later cancelled with refund of the advance. The requirements of section 53A of the Transfer of Property Act were therefore not satisfied. Applying the principle in Balbir Singh Maini, the unregistered contract had no legal effect for invoking section 53A and could not trigger capital gains. No transfer arose and the capital gains addition was held unsustainable. en-us Mon, 17 Sep 2018 00:00:00 +0530 Thu, 20 Sep 2018 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367427 An unregistered agreement for sale did not amount to a transfer under section 2(47)(v) because possession was never handed over, full consideration was not paid, and the agreement was later cancelled with refund of the advance. The requirements of section 53A of the Transfer of Property Act were therefore not satisfied. Applying the principle in Balbir Singh Maini, the unregistered contract had no legal effect for invoking section 53A and could not trigger capital gains. No transfer arose and the capital gains addition was held unsustainable. Case-Laws Income Tax Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367427