https://www.taxtmi.com/caselaws?id=460894 When immovable property held as stock-in-trade is the subject of a JDA, the stated view is that it is treated as sold only on execution of a registered sale deed, not earlier. The CIT(A) and ITAT were aligned on that position, and the Karnataka HC noted that this view was in order. The Revenue's concern that the same reasoning could affect pending and future assessment years was met by leaving those matters open for independent consideration. The HC concluded that no substantial question of law arose in the Revenue's appeal for the relevant year. en-us Tue, 10 Jul 2018 00:00:00 +0530 Thu, 27 Feb 2025 16:04:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460894 When immovable property held as stock-in-trade is the subject of a JDA, the stated view is that it is treated as sold only on execution of a registered sale deed, not earlier. The CIT(A) and ITAT were aligned on that position, and the Karnataka HC noted that this view was in order. The Revenue's concern that the same reasoning could affect pending and future assessment years was met by leaving those matters open for independent consideration. The HC concluded that no substantial question of law arose in the Revenue's appeal for the relevant year. Case-Laws Income Tax Tue, 10 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460894