Capital Gains Deleted as No Transfer Occurred Without Possession and Full Payment

Purav Mahendra Mehta Vs ACIT (ITAT Mumbai) Registration Alone of Agrement to Sell Doesn’t Trigger Capital Gains — Mumbai ITAT Applies ‘Transfer’ Principles Assessment was completed u/s 143(3) taxing capital gains of ₹80,76,511 on sale of three commercial units. CIT(A) confirmed the addition. Before Tribunal, Assessee submitted that only part consideration (between 5% to 13%) was received during FY 2014-15 & possession was never handed over. Agreements to Sell , though registered on 07.12.2014, specifically stated in Clause 7 & 8 that title transfer & possession would occu...