https://www.taxtmi.com/caselaws?id=283493 The court held that leasehold rights are considered capital assets under the Indian Income-tax Act, rejecting the argument that they are movable property. Additionally, the court ruled that the sale of leasehold rights is deemed to have occurred only upon execution and registration of the sale deed, not solely based on possession or agreement. Consequently, the court decided in favor of the tax department on both issues, affirming the tax implications of the transaction based on the timing of the sale deed execution. en-us Tue, 24 Jan 1961 00:00:00 +0530 Wed, 25 Sep 2019 13:17:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283493 The court held that leasehold rights are considered capital assets under the Indian Income-tax Act, rejecting the argument that they are movable property. Additionally, the court ruled that the sale of leasehold rights is deemed to have occurred only upon execution and registration of the sale deed, not solely based on possession or agreement. Consequently, the court decided in favor of the tax department on both issues, affirming the tax implications of the transaction based on the timing of the sale deed execution. Case-Laws Income Tax Tue, 24 Jan 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283493