https://www.taxtmi.com/caselaws?id=410385 Capital gains liability does not arise in the relevant assessment year merely because registered sale deeds are executed later where possession and the substantive property transfer were completed in earlier years. Applying the principle reflected in section 53A of the Transfer of Property Act, later registration does not create a fresh transfer for capital gains purposes. Further, an alleged relinquishment of rights in retained property requires verified evidence; it cannot rest on presumption. Consequently, no taxable transfer or relinquishment arose in the year concerned, and the capital-gains addition was unsustainable. en-us Mon, 26 Jul 2021 00:00:00 +0530 Sat, 31 Jul 2021 09:46:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410385 Capital gains liability does not arise in the relevant assessment year merely because registered sale deeds are executed later where possession and the substantive property transfer were completed in earlier years. Applying the principle reflected in section 53A of the Transfer of Property Act, later registration does not create a fresh transfer for capital gains purposes. Further, an alleged relinquishment of rights in retained property requires verified evidence; it cannot rest on presumption. Consequently, no taxable transfer or relinquishment arose in the year concerned, and the capital-gains addition was unsustainable. Case-Laws Income Tax Mon, 26 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410385