Transfer of capital assets not completes if Terms & Conditions of agreement not performed by both parties

Brief of the Case

ITAT Jaipur held In the case of ITO vs. Alok Mukherjee that where both the parties not performed terms & conditions of the agreement to sale in prescirbed time and prescribed manner, it is breach of contract, so it will not be a transfer of property on the date of such agreement. In the given case. on the basis of agreement to sale and deed of registration, it is proved that agreement to sale are different. Even agreement to sell is presumed to be genuine as per the terms and condi

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