https://www.taxtmi.com/caselaws?id=398972 Reassessment initiated after four years was upheld where fresh material showed that the assessee had executed an immovable property sale deed and had not disclosed the transaction in the return. For capital gains, transfer was treated as having occurred when consideration was received and possession was handed over under part performance, so later registration did not defer taxability. The transfer was therefore attributable to the earlier assessment year, and section 50C could not sustain an addition in assessment year 2007-08 on these facts. The addition for that later year was deleted. en-us Wed, 08 Jul 2020 00:00:00 +0530 Tue, 29 Sep 2020 06:57:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398972 Reassessment initiated after four years was upheld where fresh material showed that the assessee had executed an immovable property sale deed and had not disclosed the transaction in the return. For capital gains, transfer was treated as having occurred when consideration was received and possession was handed over under part performance, so later registration did not defer taxability. The transfer was therefore attributable to the earlier assessment year, and section 50C could not sustain an addition in assessment year 2007-08 on these facts. The addition for that later year was deleted. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398972