https://www.taxtmi.com/caselaws?id=388668 Capital gains are chargeable in the year in which a transfer of a capital asset occurs, and transfer includes an arrangement falling within section 2(47)(v) where possession is allowed in part performance under section 53A of the Transfer of Property Act. A registered agreement to sell, together with handing over of part possession, showed that the transfer had already been completed in the earlier assessment year; section 47 of the Registration Act meant the later sale deed related back to execution. The reassessment based on the later year as the date of transfer was therefore without jurisdiction, and the additions were deleted. en-us Tue, 01 Oct 2019 00:00:00 +0530 Wed, 20 Nov 2019 11:24:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388668 Capital gains are chargeable in the year in which a transfer of a capital asset occurs, and transfer includes an arrangement falling within section 2(47)(v) where possession is allowed in part performance under section 53A of the Transfer of Property Act. A registered agreement to sell, together with handing over of part possession, showed that the transfer had already been completed in the earlier assessment year; section 47 of the Registration Act meant the later sale deed related back to execution. The reassessment based on the later year as the date of transfer was therefore without jurisdiction, and the additions were deleted. Case-Laws Income Tax Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388668