Capital Gains Deleted as No Transfer Occurred Without Possession and Full Payment

Purav Mahendra Mehta Vs ACIT (ITAT Mumbai)

Registration Alone of Agrement to Sell Doesn’t Trigger Capital Gains — Mumbai ITAT Applies ‘Transfer’ Principles

Assessment was completed u/s 143(3) taxing capital gains of ₹80,76,511 on sale of three commercial units. CIT(A) confirmed the addition.

Before Tribunal, Assessee submitted that only part consideration (between 5% to 13%) was received during FY 2014-15 & possession was never handed over. Agreements to Sell , though registered on 07.12.2014, specifically stated in Clau

Please become a Premium member. If you are already a Premium member, login here to access the full content.