ITAT upheld taxation of Capital Gain in the year of Registration of sale deed

Ambesh Shrivastav Vs ITO (ITAT Indore)

The brief facts leading to the case is this that the assessee along with 21 co-sellers sold immovable property lying and situated at Talawali Chanda to M/s. Sarthak Innovations Pvt. Ltd. The sale deed was registered under Section 2(14) of the Act on 21.10.2009 for a stated consideration of Rs.30 Lakhs in which the assessee’s proportionate share comes to only Rs. 1,36,561/-. The case of the Revenue is this that the property is situated within a distance of 8 from the municipal limits o

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