https://www.taxtmi.com/caselaws?id=60335 Possession given under an agreement to sell and a linked memorandum of understanding was treated as part performance of a single, indivisible sale transaction. The arrangement fell within section 53A of the Transfer of Property Act, 1882 and the extended definition of transfer under section 2(47)(v) of the Income-tax Act, so capital gains accrued in the earlier assessment year for the entire property, not merely the portion physically occupied. Debenture redemption premium was held to relate to the full tenure of the debentures and, applying the matching principle, had to be allowed proportionately over that period rather than in full in one year. en-us Tue, 30 Jan 2001 00:00:00 +0530 Tue, 04 Jan 2011 17:15:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60335 Possession given under an agreement to sell and a linked memorandum of understanding was treated as part performance of a single, indivisible sale transaction. The arrangement fell within section 53A of the Transfer of Property Act, 1882 and the extended definition of transfer under section 2(47)(v) of the Income-tax Act, so capital gains accrued in the earlier assessment year for the entire property, not merely the portion physically occupied. Debenture redemption premium was held to relate to the full tenure of the debentures and, applying the matching principle, had to be allowed proportionately over that period rather than in full in one year. Case-Laws Income Tax Tue, 30 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60335