https://www.taxtmi.com/caselaws?id=800385 Income from sale of stock-in-trade accrues when full consideration is received, possession is delivered and the transaction is recognised, notwithstanding later registration of the conveyance. Transfer is assessed on substantive completion of the transaction, applying part performance and substance over form, rather than subsequent procedural registration. A deeming provision for transfer of stock-in-trade requires a taxable transfer in the relevant previous year; it cannot apply merely because an instrument for an earlier completed and taxed sale is registered later. The relevant tax year therefore remains the year of substantive transfer, avoiding double taxation. en-us Fri, 11 Sep 2026 00:00:00 +0530 Tue, 06 Oct 2026 08:13:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800385 Income from sale of stock-in-trade accrues when full consideration is received, possession is delivered and the transaction is recognised, notwithstanding later registration of the conveyance. Transfer is assessed on substantive completion of the transaction, applying part performance and substance over form, rather than subsequent procedural registration. A deeming provision for transfer of stock-in-trade requires a taxable transfer in the relevant previous year; it cannot apply merely because an instrument for an earlier completed and taxed sale is registered later. The relevant tax year therefore remains the year of substantive transfer, avoiding double taxation. Case-Laws Income Tax Fri, 11 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800385