https://www.taxtmi.com/caselaws?id=55569 For block assessment purposes, a land transfer was held not taxable in assessment year 1994-95 under section 2(47)(v) or 2(47)(vi) because section 53A of the Transfer of Property Act requires a written contract for part-performance, and mere possession without that requirement was insufficient; the capital gain was therefore treated as assessable in assessment year 1996-97. The land's 1 April 1981 market value at 3,60,950 was upheld on the approved valuer's report and tenanting of the land. An enhanced sale consideration based on an unsigned, undated loose sheet from a third party was rejected as a dumb document lacking corroboration; the admitted consideration of 36 lakhs was restored. en-us Tue, 04 Aug 1998 00:00:00 +0530 Sun, 06 Feb 2011 03:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55569 For block assessment purposes, a land transfer was held not taxable in assessment year 1994-95 under section 2(47)(v) or 2(47)(vi) because section 53A of the Transfer of Property Act requires a written contract for part-performance, and mere possession without that requirement was insufficient; the capital gain was therefore treated as assessable in assessment year 1996-97. The land's 1 April 1981 market value at 3,60,950 was upheld on the approved valuer's report and tenanting of the land. An enhanced sale consideration based on an unsigned, undated loose sheet from a third party was rejected as a dumb document lacking corroboration; the admitted consideration of 36 lakhs was restored. Case-Laws Income Tax Tue, 04 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55569