https://www.taxtmi.com/caselaws?id=431386 Capital gains tax under section 45 depends on the year in which the assessee's transfer of the capital asset actually occurred. Where the record contained no categorical finding on whether the transfer took place to the bank, reconstruction company, or at a later stage, taxability could not be conclusively determined. The matter was therefore restored to the first appellate authority for a speaking order after giving the assessee a reasonable opportunity of hearing. As the issue was remanded on the foundational fact of transfer, questions on indexed cost of acquisition and cost of improvement were left open for fresh consideration. en-us Fri, 21 Oct 2022 00:00:00 +0530 Tue, 18 Apr 2023 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431386 Capital gains tax under section 45 depends on the year in which the assessee's transfer of the capital asset actually occurred. Where the record contained no categorical finding on whether the transfer took place to the bank, reconstruction company, or at a later stage, taxability could not be conclusively determined. The matter was therefore restored to the first appellate authority for a speaking order after giving the assessee a reasonable opportunity of hearing. As the issue was remanded on the foundational fact of transfer, questions on indexed cost of acquisition and cost of improvement were left open for fresh consideration. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431386