https://www.taxtmi.com/highlights?id=95050 ITAT held that no "transfer" of capital asset occurred in AY 2015-16 under the sale agreements for three office properties, as only 5-13% of the agreed consideration was received and contractual conditions for transfer, including full payment and handing over of documents/possession, were not fulfilled. Buyers' confirmations corroborated non-payment of full consideration and non-delivery of possession. The Tribunal further accepted that capital gains were correctly offered and assessed in AY 2018-19 when full consideration was received, and the Revenue could not tax the same transaction twice. Accordingly, the addition for capital gains in AY 2015-16 was deleted and the assessee's appeal was allowed. en-us Mon, 15 Dec 2025 08:39:22 +0530 Mon, 15 Dec 2025 08:39:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=95050 ITAT held that no "transfer" of capital asset occurred in AY 2015-16 under the sale agreements for three office properties, as only 5-13% of the agreed consideration was received and contractual conditions for transfer, including full payment and handing over of documents/possession, were not fulfilled. Buyers' confirmations corroborated non-payment of full consideration and non-delivery of possession. The Tribunal further accepted that capital gains were correctly offered and assessed in AY 2018-19 when full consideration was received, and the Revenue could not tax the same transaction twice. Accordingly, the addition for capital gains in AY 2015-16 was deleted and the assessee's appeal was allowed. Highlights Income Tax Mon, 15 Dec 2025 08:39:22 +0530 https://www.taxtmi.com/highlights?id=95050