https://www.taxtmi.com/caselaws?id=415825 A registered agreement for sale did not by itself establish a completed transfer for short-term capital gains purposes where possession was not handed over, the balance consideration remained unpaid, and contractual conditions such as full payment and the required no-objection from the Port Trust were still outstanding. On those facts, the transaction was treated as a conditional sale rather than an absolute transfer, so the capital gains addition was deleted. Because the depreciation disallowance was consequential to the same assumed transfer, it also failed once the transfer was held incomplete, and depreciation on the flat was allowed. en-us Mon, 22 Nov 2021 00:00:00 +0530 Wed, 15 Dec 2021 09:27:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415825 A registered agreement for sale did not by itself establish a completed transfer for short-term capital gains purposes where possession was not handed over, the balance consideration remained unpaid, and contractual conditions such as full payment and the required no-objection from the Port Trust were still outstanding. On those facts, the transaction was treated as a conditional sale rather than an absolute transfer, so the capital gains addition was deleted. Because the depreciation disallowance was consequential to the same assumed transfer, it also failed once the transfer was held incomplete, and depreciation on the flat was allowed. Case-Laws Income Tax Mon, 22 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415825