Section 54 Relief Allowed on Construction Cost as New House Was Built Within Statutory Period

Surendra Singh Vs ITO (ITAT Jabalpur) Capital Gains Taxable in Year of Registered Sale Because Unregistered Agreement Did Not Transfer Possession; CIT(A)’s Averaging Method Rejected Because Property Valuation Must Rest on Evidence; Capital Gain Not Shifted to Earlier Year Because Possession Was Delivered Only Through Registered Deed; Benefit of Proviso to Section 50C Available Because Part Consideration Was Received Through Banking Channels The ITAT Jabalpur held that capital gains on sale of immovable property are taxable in the year of actual transfer through registered sale deeds and n...