https://www.taxtmi.com/caselaws?id=412492 Where a registered sale deed was expressly made conditional on receipt of cheque payments and provided for automatic cancellation on dishonour, no effective transfer arose for capital gains purposes when the cheques were dishonoured, the transaction was later treated as void, and the property remained with the assessee. The mere execution of a registered deed did not, by itself, establish a completed transfer in substance. On these facts, the consideration could not be brought to tax as capital gains because the capital asset was never transferred absolutely and the assessee retained possession. en-us Wed, 14 Jul 2021 00:00:00 +0530 Mon, 20 Sep 2021 09:19:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412492 Where a registered sale deed was expressly made conditional on receipt of cheque payments and provided for automatic cancellation on dishonour, no effective transfer arose for capital gains purposes when the cheques were dishonoured, the transaction was later treated as void, and the property remained with the assessee. The mere execution of a registered deed did not, by itself, establish a completed transfer in substance. On these facts, the consideration could not be brought to tax as capital gains because the capital asset was never transferred absolutely and the assessee retained possession. Case-Laws Income Tax Wed, 14 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412492