Mere agreement to sell not result in transfer of asset

Godha Realtors Pvt. Ltd. Vs ACIT (ITAT Bangalore)

In the instant case, it is not the case of the AO that the provisions of sec. 53A of the Transfer of Property Act would apply to the impugned transaction. In fact, it is the submission of the assessee that the possession was never given to Shri Ramaiah Reddy.

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