No Capital Gain Tax if Consideration not Discharged by Purchaser

ACIT Vs Sh. Ijyaraj Singh (ITAT Jaipur)

The issue under consideration is whether the AO is correct in chargeing capital gain in the hands of assessee irrespective of the fact that the full consideration not received by the assessee?

In the present case, the assessee transferred his land through a registered sale deed for a consideration of Rs 3.40 crores paid by cheques. Out of these cheques, two were dishonored and returned unpaid to the assessee. The AO, while completin

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