Advance against property cannot be taxed as capital gain if possession not given

IN THE ITAT BANGALORE BENCH ‘B’ Jaico Automobile Engineering Co. (P.) Ltd. V/s. Assistant Commissioner of Income-tax, Circle 11(5), Bangalore IT APPEAL NOS. 1057 & 1133 (BANG.) OF 2010 [ASSESSMENT YEAR 2007-08] APRIL 30, 2012 ORDER N.K. Saini, Accountant Member These cross-appeals by the assessee and the department are directed against the order dated 30.06.2010 of the CIT (Appeals)-I, Bangalore. 2. Since the issues involved are common and the appeals were heard together, so these are being disposed of by this consolidated order for the sake of convenience. 3. ...