https://www.taxtmi.com/caselaws?id=396367 A right acquired under an agreement to sell to obtain conveyance of immovable property is a capital asset under section 2(14) of the Income-tax Act, 1961, and its surrender or extinguishment on transfer of the property to a third party constitutes a transfer under section 2(47), giving rise to capital gains. The absence of a prior suit for specific performance does not change the character of that right. The registration objection was rejected because section 17(1A) of the Registration Act, 1908 was relevant only to part performance under section 53A of the Transfer of Property Act, 1882, and no such possession or part performance existed. Computation under section 48 and relief under section 54F were left for fresh determination. en-us Mon, 29 Jun 2020 00:00:00 +0530 Fri, 22 Aug 2025 22:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396367 A right acquired under an agreement to sell to obtain conveyance of immovable property is a capital asset under section 2(14) of the Income-tax Act, 1961, and its surrender or extinguishment on transfer of the property to a third party constitutes a transfer under section 2(47), giving rise to capital gains. The absence of a prior suit for specific performance does not change the character of that right. The registration objection was rejected because section 17(1A) of the Registration Act, 1908 was relevant only to part performance under section 53A of the Transfer of Property Act, 1882, and no such possession or part performance existed. Computation under section 48 and relief under section 54F were left for fresh determination. Case-Laws Income Tax Mon, 29 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396367