Court Rules Capital Gains Taxable at Sale u/s 45, Regardless of Deferred Payment Agreements.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Taxability under the head “capital gain“ u/s 45 - receipt based or accrual based taxation - The fact that the appellant assessee adopted a mechanism in the agreement that the transferee would defer the payments would not in any manner detract from the chargeability when the shares were sold. - HC....