https://www.taxtmi.com/caselaws?id=419971 Capital gains on transfer of immovable property arise only when the underlying arrangement is legally enforceable for part performance under section 53A of the Transfer of Property Act and section 2(47)(v) of the Income-tax Act. Where the conveyance deed is executed later and the earlier document lacks registration, transfer cannot be treated as having occurred in the relevant year, so the capital gain is not taxable in that assessment year. Interest income is assessable on mercantile principles only when it has actually accrued; if it has already been offered in a later year, the matter requires verification to avoid double taxation. en-us Wed, 17 Nov 2021 00:00:00 +0530 Tue, 22 Mar 2022 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419971 Capital gains on transfer of immovable property arise only when the underlying arrangement is legally enforceable for part performance under section 53A of the Transfer of Property Act and section 2(47)(v) of the Income-tax Act. Where the conveyance deed is executed later and the earlier document lacks registration, transfer cannot be treated as having occurred in the relevant year, so the capital gain is not taxable in that assessment year. Interest income is assessable on mercantile principles only when it has actually accrued; if it has already been offered in a later year, the matter requires verification to avoid double taxation. Case-Laws Income Tax Wed, 17 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419971