https://www.taxtmi.com/article/detailed?id=11234 Transfer of property for capital gains arises only on transfer of possession or execution of a sale deed; unregistered instruments like a Banakhat or power of attorney do not substitute for a sale deed. Sale of land within the short term holding period results in short term capital gain and reinvestment exemptions for residential purchase are not available. The tribunal also upheld ex parte disposal where the appellant failed to appear and treated the unregistered Banakhat as an afterthought absent mention in the sale deed. en-us Thu, 23 Mar 2023 12:45:17 +0530 Thu, 23 Mar 2023 12:45:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11234 Transfer of property for capital gains arises only on transfer of possession or execution of a sale deed; unregistered instruments like a Banakhat or power of attorney do not substitute for a sale deed. Sale of land within the short term holding period results in short term capital gain and reinvestment exemptions for residential purchase are not available. The tribunal also upheld ex parte disposal where the appellant failed to appear and treated the unregistered Banakhat as an afterthought absent mention in the sale deed. Articles Income Tax Thu, 23 Mar 2023 12:45:17 +0530 https://www.taxtmi.com/article/detailed?id=11234