https://www.taxtmi.com/caselaws?id=371444 Possession handed over under a written agreement for sale can amount to a transfer for capital gains purposes where the arrangement falls within section 53A of the Transfer of Property Act and section 2(47)(v) of the Income-tax Act. The later rescission of the contract does not remove the tax incidence for the year in which the transfer occurred. A subsequent registration requirement under section 17(1A) of the Registration Act does not alter that result where the agreement predated the amendment, as the provision was treated as non-retrospective. The capital gains charge therefore arises on the basis of part performance and delivery of possession, subject to computation under section 48. en-us Mon, 24 Sep 2018 00:00:00 +0530 Sat, 29 Dec 2018 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371444 Possession handed over under a written agreement for sale can amount to a transfer for capital gains purposes where the arrangement falls within section 53A of the Transfer of Property Act and section 2(47)(v) of the Income-tax Act. The later rescission of the contract does not remove the tax incidence for the year in which the transfer occurred. A subsequent registration requirement under section 17(1A) of the Registration Act does not alter that result where the agreement predated the amendment, as the provision was treated as non-retrospective. The capital gains charge therefore arises on the basis of part performance and delivery of possession, subject to computation under section 48. Case-Laws Income Tax Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371444