https://www.taxtmi.com/caselaws?id=403934 Capital gains from the sale of immovable property were held taxable in the year of transfer, not in the later year in which registration was completed. The sale deed was treated as operative from the date of execution, and section 47 of the Registration Act was applied to show that registration does not defer conveyance. Section 45(1) of the Income-tax Act governed the year of taxability, while section 50C was confined to computation by substituting the deemed full value of consideration. On that basis, section 50C could not shift the transaction into Assessment Year 2011-12, and the addition made on that footing was deleted. en-us Wed, 10 Feb 2021 00:00:00 +0530 Thu, 11 Feb 2021 06:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403934 Capital gains from the sale of immovable property were held taxable in the year of transfer, not in the later year in which registration was completed. The sale deed was treated as operative from the date of execution, and section 47 of the Registration Act was applied to show that registration does not defer conveyance. Section 45(1) of the Income-tax Act governed the year of taxability, while section 50C was confined to computation by substituting the deemed full value of consideration. On that basis, section 50C could not shift the transaction into Assessment Year 2011-12, and the addition made on that footing was deleted. Case-Laws Income Tax Wed, 10 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403934