https://www.taxtmi.com/caselaws?id=400141 For taxing receipt of immovable property under section 56(2)(vii)(b)(ii), the relevant date depended on when the transferee acquired effective control and de facto ownership. The registered sale deed was executed and presented for registration on 30.03.2013, and section 47 of the Registration Act, 1908 was treated as giving the document effect from the date of execution. The transaction was also regarded as a transfer in substance under section 2(47)(vi) of the Income-tax Act because possession and consideration had been exchanged. Accordingly, receipt was taken to have occurred in the year relevant to AY 2013-14, and the later year's addition did not survive. en-us Tue, 27 Oct 2020 00:00:00 +0530 Thu, 29 Oct 2020 09:28:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400141 For taxing receipt of immovable property under section 56(2)(vii)(b)(ii), the relevant date depended on when the transferee acquired effective control and de facto ownership. The registered sale deed was executed and presented for registration on 30.03.2013, and section 47 of the Registration Act, 1908 was treated as giving the document effect from the date of execution. The transaction was also regarded as a transfer in substance under section 2(47)(vi) of the Income-tax Act because possession and consideration had been exchanged. Accordingly, receipt was taken to have occurred in the year relevant to AY 2013-14, and the later year's addition did not survive. Case-Laws Income Tax Tue, 27 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400141