https://www.taxtmi.com/caselaws?id=18411 In compulsory acquisition of immovable property, the decisive date for capital gains under section 45 of the Income-tax Act, 1961 was the date on which actual possession was taken, not the date of the acquisition notification. Where possession was taken under section 17(1) of the Land Acquisition Act, 1894 before the award, the transfer was treated as occurring on that possession date. On the facts stated, possession was handed over on 4 January 1975, so the capital gains accrued in assessment year 1975-76. en-us Wed, 14 Feb 1996 00:00:00 +0530 Wed, 30 Sep 2009 17:10:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18411 In compulsory acquisition of immovable property, the decisive date for capital gains under section 45 of the Income-tax Act, 1961 was the date on which actual possession was taken, not the date of the acquisition notification. Where possession was taken under section 17(1) of the Land Acquisition Act, 1894 before the award, the transfer was treated as occurring on that possession date. On the facts stated, possession was handed over on 4 January 1975, so the capital gains accrued in assessment year 1975-76. Case-Laws Income Tax Wed, 14 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18411