https://www.taxtmi.com/caselaws?id=426702 A registered sale deed for immovable property was treated as a completed transfer giving rise to short-term capital gains where the assessee had earlier stated under section 131 that the co-owners executed the sale and received their shares by cheque. The claim that the cheques were not encashed for personal reasons or because of alleged litigation was unsupported by evidence, and there was no proof that the transfer was incomplete or that the consideration was conditional. On that basis, the transaction fell within section 2(47) and section 45 of the Income-tax Act, and the capital gains addition was sustained. en-us Wed, 27 Jul 2022 00:00:00 +0530 Wed, 24 Aug 2022 08:47:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426702 A registered sale deed for immovable property was treated as a completed transfer giving rise to short-term capital gains where the assessee had earlier stated under section 131 that the co-owners executed the sale and received their shares by cheque. The claim that the cheques were not encashed for personal reasons or because of alleged litigation was unsupported by evidence, and there was no proof that the transfer was incomplete or that the consideration was conditional. On that basis, the transaction fell within section 2(47) and section 45 of the Income-tax Act, and the capital gains addition was sustained. Case-Laws Income Tax Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426702