This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Even part performance of contract in case of JDA attracts capital gain tax
Case Law Details
- Case Name
- K. Vijaya Lakshmi Vs Asst. Commissioner of Income Tax (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Hyderabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
K. Vijaya Lakshmi Vs Asst. (ITAT Hyderabad)
As far as the issue of bringing to tax the capital gains during the year, it was the contention of assessee that possession was not given and assessee retained possession of the property thereby the capital gains arises in the year in which the new flats were handed over. Ld. Counsel in his arguments, elaborately read out various portions of the agreement to substantiate assessee’s claim, whereas the Ld.DR relied on various other clauses to state that possession was handed over. As far as the development agreement is concerned, it is noticed that...
