Investment Cannot Be Added in Year of Registration if Paid in Earlier Year: ITAT Patna

Suman Devi Vs ITO (ITAT Patna) Investment Year Matters- Registration Date Irrelevant for Source of Funds- Property Investment Taxable in Year of Payment, Not Year of Registration- ITAT Patna Assessee along with five co-purchasers acquired an immovable property for a total consideration of ₹2.10 crore. Stamp duty of ₹18.33 lakh & registration charges of ₹4.61 lakh were also paid. Assessee made full payments during FY 2012-13 (AY 2013-14), with the last payment being on 10.03.2013. However, registration of the property was completed on 04.04.2013, which fell in AY 2014-15. AO, during A...