https://www.taxtmi.com/caselaws?id=374031 For capital gains to arise on an alleged transfer, the transaction had to satisfy the requirements of section 2(47)(v) of the Income-tax Act, read with part performance under section 53A of the Transfer of Property Act. Because possession of the immovable property was not handed over, only a small part of the agreed consideration was received, and the balance amount was never realised, the essential elements of a transfer were not established. Long-term capital gains were therefore not assessable in the assessee's hands for the relevant year, and the addition was deleted. en-us Thu, 17 Jan 2019 00:00:00 +0530 Thu, 24 Jan 2019 07:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374031 For capital gains to arise on an alleged transfer, the transaction had to satisfy the requirements of section 2(47)(v) of the Income-tax Act, read with part performance under section 53A of the Transfer of Property Act. Because possession of the immovable property was not handed over, only a small part of the agreed consideration was received, and the balance amount was never realised, the essential elements of a transfer were not established. Long-term capital gains were therefore not assessable in the assessee's hands for the relevant year, and the addition was deleted. Case-Laws Income Tax Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374031