https://www.taxtmi.com/caselaws?id=783371 ITAT held that no "transfer" under s.2(47) of the IT Act occurred in AY 2015-16, as only 5-13% of the agreed sale consideration was received and contractual clauses made full payment a condition precedent for transfer of title and handing over of documents/possession. Purchasers confirmed non-payment of full consideration and non-taking of possession. Consequently, capital gains were not chargeable in AY 2015-16. ITAT further accepted the alternate plea that the same capital gains, having been offered and assessed in AY 2018-19 upon receipt of full consideration, could not be taxed again without resulting in double taxation. The assessee's appeal was allowed. en-us Thu, 27 Nov 2025 00:00:00 +0530 Fri, 12 Dec 2025 16:48:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783371 ITAT held that no "transfer" under s.2(47) of the IT Act occurred in AY 2015-16, as only 5-13% of the agreed sale consideration was received and contractual clauses made full payment a condition precedent for transfer of title and handing over of documents/possession. Purchasers confirmed non-payment of full consideration and non-taking of possession. Consequently, capital gains were not chargeable in AY 2015-16. ITAT further accepted the alternate plea that the same capital gains, having been offered and assessed in AY 2018-19 upon receipt of full consideration, could not be taxed again without resulting in double taxation. The assessee's appeal was allowed. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783371