2013 (2) TMI 153

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....ocate for the appellant. Ms. Urvashi Dhugga, Advocate for the respondents. HEMANT GUPTA, J.(Oral) This order will dispose of two appeals bearing I.T.A. No.153 of 2012 and I.T.A. No.154 of 2012. For the sake of convenience, the facts are being taken from I.T.A. No.153 of 2012. The present appeal under Section 260-A of the Income Tax Act, 1961 (for short `the Act') arises out of an ord....

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....s of the case, the action of the authorities below in acting on its own presumptions and ignoring the law laid down with respect to the date of registration being insignificant for the purposes of computation of capital gains and section 54 of the Act is legally unsustainable in the eyes of law? (iii) Whether in facts and circumstances of the case, the action of the ld. Courts below in denying ....

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....e A-1 to A-3 are legally sustainable in the eyes of law?" The appellant entered into an agreement to transfer rights in property bearing House No.267, Sector 9-C, Chandigarh on 27.12.2002 after receipt of earnest money of Rs.15 lacs. In pursuance of the said agreement, the sale deed was executed on 24.09.2004 when the entire sale consideration amounting to Rs.1.32 crores was received. The ap....

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....greement i.e. 27.12.2012. The basic question is; as on on what day, the assesee has transferred rights in property. The appellant has received only Rs.15 lacs as the amount of earnest money out of total sale consideration of Rs.1.32 lacs. The balance payment was received only on 24.09.2004. A finding of fact has been recorded by the Tribunal that there was no delivery of possession prior to 24.....