https://www.taxtmi.com/highlights?id=99093 Where a civil court had already declared the registered sale deed void for fraud and non-payment of consideration, no capital gain could be attributed to the assessee merely because the Revenue's appeal against that decree was pending. The ITAT noted that the Assessing Officer made no inquiry with the purchasers about payment of consideration or the source of investment, and no material showed that any sale proceeds were actually received by the assessee. On these facts, a valid transfer and receipt of consideration were absent, so no long-term capital gain arose even on a protective basis. The protective addition was deleted. en-us Thu, 23 Apr 2026 11:13:42 +0530 Thu, 23 Apr 2026 11:13:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=99093 Where a civil court had already declared the registered sale deed void for fraud and non-payment of consideration, no capital gain could be attributed to the assessee merely because the Revenue's appeal against that decree was pending. The ITAT noted that the Assessing Officer made no inquiry with the purchasers about payment of consideration or the source of investment, and no material showed that any sale proceeds were actually received by the assessee. On these facts, a valid transfer and receipt of consideration were absent, so no long-term capital gain arose even on a protective basis. The protective addition was deleted. Highlights Income Tax Thu, 23 Apr 2026 11:13:42 +0530 https://www.taxtmi.com/highlights?id=99093