https://www.taxtmi.com/caselaws?id=61364 The ITAT Chandigarh allowed the Revenue's appeals, overturning the AAC's decision to delete additions made by the ITO on profits from plot sales. The ITAT held that income from sales, even before the execution of sale deeds, was taxable based on possession and easement rights transferred to buyers, distinguishing between registered and unregistered lands. The ITAT emphasized the nature of transactions and possession of lands as crucial in determining the taxability of income from plot sales, contrary to the AAC's ruling in favor of the assessee. en-us Wed, 23 Jul 1986 00:00:00 +0530 Wed, 12 Jan 2011 13:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61364 The ITAT Chandigarh allowed the Revenue's appeals, overturning the AAC's decision to delete additions made by the ITO on profits from plot sales. The ITAT held that income from sales, even before the execution of sale deeds, was taxable based on possession and easement rights transferred to buyers, distinguishing between registered and unregistered lands. The ITAT emphasized the nature of transactions and possession of lands as crucial in determining the taxability of income from plot sales, contrary to the AAC's ruling in favor of the assessee. Case-Laws Income Tax Wed, 23 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61364