https://www.taxtmi.com/caselaws?id=38022 A transaction may be split into distinct dealings where the parties separately treat movable and immovable assets, value them independently and structure different modes of transfer. The governing distinction between sale and exchange turns on consideration: where payment is in money, the transfer is a sale; where the consideration is reciprocal transfer of property, it is an exchange even if a balancing cash amount is included to equalise value. Applying that principle, the text treats movables and immovables as separate arrangements and emphasises the parties' real intention and the manner in which the assets were dealt with. en-us Fri, 07 Apr 1978 00:00:00 +0530 Fri, 02 Apr 2010 15:49:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38022 A transaction may be split into distinct dealings where the parties separately treat movable and immovable assets, value them independently and structure different modes of transfer. The governing distinction between sale and exchange turns on consideration: where payment is in money, the transfer is a sale; where the consideration is reciprocal transfer of property, it is an exchange even if a balancing cash amount is included to equalise value. Applying that principle, the text treats movables and immovables as separate arrangements and emphasises the parties' real intention and the manner in which the assets were dealt with. Case-Laws Income Tax Fri, 07 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38022