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Transfer not complete if possession not delivered to purchaser
Case Law Details
- Case Name
- ACIT Vs Shree Ami Office Owner’s Association (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All ITAT, ITAT Ahmedabad
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ACIT Vs Shree Ami Office Owner’s Association (ITAT Ahmedabad)
The issue for consideration is the year of taxability of the property. We observe that in the instant case, both the registered sale deed as well as the possession of the property was transferred in the subsequent financial year i.e. financial year 2007-08. The complete payment was also made in the subsequent year. During the year under consideration, only the agreement to sell was entered into and part consideration was paid. In the case of Ratna Trayi Reality Services (P.) Ltd.[2013] 34 taxmann.com 122 (Gujarat), the Gujarat Hig...
