https://www.taxtmi.com/caselaws?id=430837 A sale agreement, agency agreement and general power of attorney do not amount to a deemed transfer under Section 2(47)(v) of the Income-tax Act unless the arrangement satisfies Section 53-A of the Transfer of Property Act, including delivery of possession in part performance. Where the documents do not record that possession was handed over and the sale agreement is not registered as required by Section 17(1-A) of the Registration Act, the transaction cannot be treated as a transfer for capital gains purposes. On that basis, the capital gains addition could not be sustained, and the assessment and appellate orders were set aside for fresh consideration in accordance with law. en-us Thu, 20 Oct 2022 00:00:00 +0530 Mon, 28 Nov 2022 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430837 A sale agreement, agency agreement and general power of attorney do not amount to a deemed transfer under Section 2(47)(v) of the Income-tax Act unless the arrangement satisfies Section 53-A of the Transfer of Property Act, including delivery of possession in part performance. Where the documents do not record that possession was handed over and the sale agreement is not registered as required by Section 17(1-A) of the Registration Act, the transaction cannot be treated as a transfer for capital gains purposes. On that basis, the capital gains addition could not be sustained, and the assessment and appellate orders were set aside for fresh consideration in accordance with law. Case-Laws Income Tax Thu, 20 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430837