https://www.taxtmi.com/caselaws?id=277448 A pre-incorporation agreement followed by adoption, ratification, and delivery of possession was treated as binding on the company for fixing the date of transfer. The registered deed of 17-5-1946 was construed as covering only the immovable properties, while the movable assets in the second part of the schedule were found to have been delivered and taken possession of on 30-3-1946. The resulting gain was therefore outside tax under section 12B of the Income-tax Act, 1922 because the transfer occurred on or before 31-3-1946. The alternative contention that the scheduled items were immovable property could not be entertained in reference jurisdiction because it raised a new factual issue not investigated by the Tribunal. en-us Tue, 28 Apr 1953 00:00:00 +0530 Tue, 04 Dec 2018 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277448 A pre-incorporation agreement followed by adoption, ratification, and delivery of possession was treated as binding on the company for fixing the date of transfer. The registered deed of 17-5-1946 was construed as covering only the immovable properties, while the movable assets in the second part of the schedule were found to have been delivered and taken possession of on 30-3-1946. The resulting gain was therefore outside tax under section 12B of the Income-tax Act, 1922 because the transfer occurred on or before 31-3-1946. The alternative contention that the scheduled items were immovable property could not be entertained in reference jurisdiction because it raised a new factual issue not investigated by the Tribunal. Case-Laws Income Tax Tue, 28 Apr 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277448