Property registration not must for constituting ‘Transfer’ as per pre-amended section 53A of TPA Act

Vasant Laxman Khandge Vs ITO (ITAT Pune) Conclusion: Assessee had handed over possession of the property to M/s. V.S. K Associates in the year 2000 on receiving substantial part of consideration which constituted transfer u/s. 2(47)(v) read with section 53A of the TPA attracting taxability of capital gain in the A.Y. 2001-02. Thus, the same could not once again be taxed in the assessment year 2007-08.  Held: Assessee filed return for the assessment year 2007-08 declaring total income of Rs.1,16,567/-. AO received information from DCIT, Pune that assessee and his brother, had entered into a de...