Capital Gains Taxable on Sale Deed Date, Not Receipt of Consideration: ITAT Hyderabad

Advertisement Raju Jamnadas Babani Vs DCIT (ITAT Hyderabad) The appeals were filed by the assessee against the orders of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, for AYs 2016-17 and 2017-18 arising from assessment orders passed under Sections 143(3) read with Sections 144 and 144B, and Section 147 read with Sections 144 and 144B of the Income Tax Act. Since both appeals involved a common issue, they were disposed of by a consolidated order. For AY 2016-17, the Assessing Officer (AO) reopened the assessment after finding that the assessee had sold an ...