ITAT Allows Section 54 Deduction as Delay in Sale Deed Registration Was Beyond Assessee’s Control

Sat Paul Bansal Vs DCIT (ITAT Chandigarh) Capital Gains Taxable in Earlier Year Since Property Rights Were Extinguished Before Sale Deed Registration; Section 54 Relief Granted After ITAT Recognises Effective Property Transfer Before Registered Conveyance; ITAT Holds Sale Consideration Receipt and Possession Transfer Sufficient for Capital Gains Taxability; Delay Due to Revenue Lien Cannot Defeat Section 54 Deduction. In this case, the dispute before the ITAT Chandigarh concerned the taxation year of long-term capital gains arising from the sale of a residential property and the assessee’s e...