https://www.taxtmi.com/caselaws?id=372737 Capital gains on transfer of immovable property were examined by reference to the earlier agreement to sell and the later registered deed. The Tribunal accepted that an agreement to sell may create enforceable rights and, on the facts, transfer under section 2(47) could not be assessed only by the date of registration. It also noted that no higher consideration received by the assessee was shown. However, because the lower authority had not examined whether the jantri value or circle rate on the date of the first agreement exceeded the declared consideration, the computation required fresh verification. The matter was restored to the Assessing Officer for reconsideration of capital gain on that basis. en-us Wed, 19 Dec 2018 00:00:00 +0530 Fri, 28 Dec 2018 11:35:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372737 Capital gains on transfer of immovable property were examined by reference to the earlier agreement to sell and the later registered deed. The Tribunal accepted that an agreement to sell may create enforceable rights and, on the facts, transfer under section 2(47) could not be assessed only by the date of registration. It also noted that no higher consideration received by the assessee was shown. However, because the lower authority had not examined whether the jantri value or circle rate on the date of the first agreement exceeded the declared consideration, the computation required fresh verification. The matter was restored to the Assessing Officer for reconsideration of capital gain on that basis. Case-Laws Income Tax Wed, 19 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372737