https://www.taxtmi.com/caselaws?id=411879 Capital gains could be computed on the basis of the transaction actually effected where the assessee sold property under an unregistered agreement, received substantial consideration, and handed over possession. The record, including the remand report, showed that the buyer recorded the transaction in her financial statements, supporting the view that transfer had occurred in substance. Registration of the conveyance was not treated as indispensable on these facts, so the addition made in assessment could not be sustained. The CIT(A)'s deletion of the addition was therefore upheld and the Revenue's challenge failed. en-us Wed, 25 Aug 2021 00:00:00 +0530 Sat, 04 Sep 2021 22:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411879 Capital gains could be computed on the basis of the transaction actually effected where the assessee sold property under an unregistered agreement, received substantial consideration, and handed over possession. The record, including the remand report, showed that the buyer recorded the transaction in her financial statements, supporting the view that transfer had occurred in substance. Registration of the conveyance was not treated as indispensable on these facts, so the addition made in assessment could not be sustained. The CIT(A)'s deletion of the addition was therefore upheld and the Revenue's challenge failed. Case-Laws Income Tax Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411879