https://www.taxtmi.com/caselaws?id=418032 A mere agreement to sell an immovable property does not by itself amount to a transfer for capital gains purposes where title has not passed, possession has not been delivered, and no registered sale deed has been executed. Although section 2(47) of the Income-tax Act defines "transfer" broadly, the facts did not attract section 53A of the Transfer of Property Act, so the lower authorities' view based on extinguishment of rights was unsustainable. Capital gains could not be assessed in the earlier year on the basis of the agreement to sell, and the later-year computation was upheld. en-us Wed, 02 Feb 2022 00:00:00 +0530 Sat, 05 Feb 2022 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418032 A mere agreement to sell an immovable property does not by itself amount to a transfer for capital gains purposes where title has not passed, possession has not been delivered, and no registered sale deed has been executed. Although section 2(47) of the Income-tax Act defines "transfer" broadly, the facts did not attract section 53A of the Transfer of Property Act, so the lower authorities' view based on extinguishment of rights was unsustainable. Capital gains could not be assessed in the earlier year on the basis of the agreement to sell, and the later-year computation was upheld. Case-Laws Income Tax Wed, 02 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418032