https://www.taxtmi.com/caselaws?id=402182 For pre-24.09.2001 immovable property transactions, transfer under section 2(47)(v) read with section 53A was treated as complete when possession was delivered in part performance and substantial consideration had been received, because registration was not then a condition for section 53A. The later amendments to section 53A and section 17(1A) of the Registration Act were treated as prospective, so capital gains were taxable in assessment year 2001-02 and not assessment year 2007-08. The first proviso to section 50C(1) was also treated as beneficial and applicable, so the stamp value on the agreement date, not the registration date, was relevant. en-us Wed, 23 Dec 2020 00:00:00 +0530 Thu, 24 Dec 2020 23:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402182 For pre-24.09.2001 immovable property transactions, transfer under section 2(47)(v) read with section 53A was treated as complete when possession was delivered in part performance and substantial consideration had been received, because registration was not then a condition for section 53A. The later amendments to section 53A and section 17(1A) of the Registration Act were treated as prospective, so capital gains were taxable in assessment year 2001-02 and not assessment year 2007-08. The first proviso to section 50C(1) was also treated as beneficial and applicable, so the stamp value on the agreement date, not the registration date, was relevant. Case-Laws Income Tax Wed, 23 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402182