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Case Law Details

Case Name : Aquatech Engineers Vs Additional Commissioner Of Income Tax (ITAT Mumbai)
Related Assessment Year : 2008- 09
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The difference arises on two counts. Firstly, the date from which the period of six months is to be reckoned. While the assessee contends it to be as 10.03.2008, i.e., the date of receipt of the consideration for transfer (of the long term capital asset), the Revenue adopts the said date as 29.02.2008, i.e., the date of the agreement, as the transfer u/s. 2(47) of the Act occurred only on the said date. Two, while the Revenue considers the period of six months to expire exactly on August 31, 2008; the same commencing on March 01, 2008, i.e., the date following t

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0 Comments

  1. Natabar Panda, Advocate, High Court of Orissa says:

    The judgment will certainly throw light in calculating the month as per British calender. It would certainly bring an end to the controversy in this regard.

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