Case Law Details
Case Name : Binjusaria Properties (P.) Ltd. Vs ACIT (ITAT Hyderabad)
Related Assessment Year :
Courts :
All ITAT ITAT Hyderabad
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CA Sandeep Kanoi
The short dispute arising for consideration in this case relates to the year of assessability of capital gains arising on the property, which was subject matter of a development agreement, i.e. whether it is assessable in the year in which the development agreement was entered into, as done by the Assessing Officer, or in the relevant subsequent year in which the area duly developed and constructed coming to the share of the assessee-owner has been handed over to the assessee. Though it was in
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Author Bio
One of my client sells land for Rs.50lacs and receives Rs.5lacs as advance payment. Balance amounts of Rs.45lacs was received on the date of sale deed by cheque. Out of Rs.45lacs-Rs 15lacs cheque dishonured, and my client file a suit against it for which resukt is still verdict.Now for compuatation of capital gain Sales consideration would be Rs.50lacs or 35lacs of any other sugesstions …??