Sale consideration taxable in the year in which sale transaction Completes

Issue before tribunal: whether the definitions of transfer as embodied in section 2(47) and section 269UA(f) of the Act would be applicable or not and what should be the correct year of taxing the receipt of ‘on money’ and recorded consideration. Whether CIT(A)has erred in reducing the undisclosed income worked out at Rs.3,08,01,600/-, as per the seized materials and as admitted by the working partner of the assessee firm, Shri Sunil H. Desai, to Rs.2,29,20,847/-. Whether CIT (A) erred in law and on facts in confirming the additions on account of profit alleged to have been earned by the ...