Capital Gain tax payable on sale consideration receipt despite Release Deed at a later date

Shri I. Seshagiri Rao Vs ITO (ITAT Hyderabad) The issue under consideration is whether the capital gains will be applicable where assessee signed a release deed waiving all his rights, title and interests in the property? During the assessment, the A.O. found that the assessee had entered into a release deed and also a supplementary release deed by which assessee has released his rights in the property and has also received the entire sale consideration. It was noted that the assessee has received entire sale consideration and in his return of income, the assessee has declared the capital gain...