https://www.taxtmi.com/caselaws?id=432729 Timing of transfer of immovable property governed the applicability of section 56(2)(vii)(b)(ii). The unregistered sale deed and claimed presentation for registration did not establish completion of transfer in the earlier year because possession and legally effective registration were not shown to have occurred then. The transaction was also treated as lacking genuineness, as only a small part of the consideration had been paid, no written or registered contract supported the asserted earlier transfer, and the surrounding conduct was inconsistent with an arm's length sale. On that basis, the deeming provision applied in the relevant assessment year and the addition was sustained. en-us Mon, 09 Jan 2023 00:00:00 +0530 Wed, 11 Jan 2023 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432729 Timing of transfer of immovable property governed the applicability of section 56(2)(vii)(b)(ii). The unregistered sale deed and claimed presentation for registration did not establish completion of transfer in the earlier year because possession and legally effective registration were not shown to have occurred then. The transaction was also treated as lacking genuineness, as only a small part of the consideration had been paid, no written or registered contract supported the asserted earlier transfer, and the surrounding conduct was inconsistent with an arm's length sale. On that basis, the deeming provision applied in the relevant assessment year and the addition was sustained. Case-Laws Income Tax Mon, 09 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432729