https://www.taxtmi.com/caselaws?id=469983 Where depreciable business machinery forming part of a block of assets was sold under agreements, with possession delivered and part consideration received during the year, the transfer was treated as completed for tax purposes even though the balance price was received later. For movable property, delivery effects transfer and the unpaid balance remains recoverable as a debt. On these facts, the resulting short-term capital loss was allowable, and disallowance of the claim was unsustainable. en-us Thu, 13 Mar 2025 00:00:00 +0530 Fri, 10 Jul 2026 22:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469983 Where depreciable business machinery forming part of a block of assets was sold under agreements, with possession delivered and part consideration received during the year, the transfer was treated as completed for tax purposes even though the balance price was received later. For movable property, delivery effects transfer and the unpaid balance remains recoverable as a debt. On these facts, the resulting short-term capital loss was allowable, and disallowance of the claim was unsustainable. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469983