https://www.taxtmi.com/caselaws?id=447956 The ITAT Mumbai held that capital gains addition cannot be made in AY 2013-14 when the actual transfer of capital assets occurred in AY 2011-12. Following section 45(3) and the HC decision in Blue Heaven Griha Nirman (P.) Ltd, the year of chargeability for capital gains is the year in which transfer takes place, not the assessment year. The appeal was decided in favor of the assessee as no capital asset transfer occurred in the impugned assessment year. en-us Thu, 21 Dec 2023 00:00:00 +0530 Mon, 08 Jan 2024 16:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447956 The ITAT Mumbai held that capital gains addition cannot be made in AY 2013-14 when the actual transfer of capital assets occurred in AY 2011-12. Following section 45(3) and the HC decision in Blue Heaven Griha Nirman (P.) Ltd, the year of chargeability for capital gains is the year in which transfer takes place, not the assessment year. The appeal was decided in favor of the assessee as no capital asset transfer occurred in the impugned assessment year. Case-Laws Income Tax Thu, 21 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447956