https://www.taxtmi.com/caselaws?id=396159 A registered sale deed does not, by itself, establish a taxable transfer for capital gains if the parties intended the sale to take effect only on full payment and possession was not delivered; on the stated facts, dishonoured cheques, stop-payment instructions, and continuing possession with the transferor meant the transfer was not complete. For another sale deed, proportionate cost of development items such as roads, wells, baories and boundary wall, together with accepted development expenditure, was treated as part of the capital gains computation. Expenditure linked to partnership firm remuneration and interest was allowed on a consistent factual basis, while the claim against interest income under section 57 required fresh factual examination of whether the expenses were wholly and exclusively incurred for earning that income. en-us Thu, 18 Jun 2020 00:00:00 +0530 Tue, 09 Aug 2022 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396159 A registered sale deed does not, by itself, establish a taxable transfer for capital gains if the parties intended the sale to take effect only on full payment and possession was not delivered; on the stated facts, dishonoured cheques, stop-payment instructions, and continuing possession with the transferor meant the transfer was not complete. For another sale deed, proportionate cost of development items such as roads, wells, baories and boundary wall, together with accepted development expenditure, was treated as part of the capital gains computation. Expenditure linked to partnership firm remuneration and interest was allowed on a consistent factual basis, while the claim against interest income under section 57 required fresh factual examination of whether the expenses were wholly and exclusively incurred for earning that income. Case-Laws Income Tax Thu, 18 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396159