https://www.taxtmi.com/caselaws?id=419740 An unregistered agreement to sell executed after the 2001 registration changes did not itself amount to a transfer of immovable property for capital gains purposes; the transfer occurred only on the registered sale deed, and the assessee was treated as a co-owner rather than a mere consenting party. The Tehsildar and Agricultural Lands Tribunal order was not finally determinative on taxability and required fresh examination at the assessment stage. Where the assessee disputed the stamp valuation, the Assessing Officer was required to refer the matter to the Valuation Officer under section 50C(2) before substituting stamp value as full consideration. The computation based only on stamp value could not stand and the matter was restored for fresh decision. en-us Wed, 16 Mar 2022 00:00:00 +0530 Sat, 19 Mar 2022 07:37:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419740 An unregistered agreement to sell executed after the 2001 registration changes did not itself amount to a transfer of immovable property for capital gains purposes; the transfer occurred only on the registered sale deed, and the assessee was treated as a co-owner rather than a mere consenting party. The Tehsildar and Agricultural Lands Tribunal order was not finally determinative on taxability and required fresh examination at the assessment stage. Where the assessee disputed the stamp valuation, the Assessing Officer was required to refer the matter to the Valuation Officer under section 50C(2) before substituting stamp value as full consideration. The computation based only on stamp value could not stand and the matter was restored for fresh decision. Case-Laws Income Tax Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419740