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2012 (12) TMI 1089 - ITAT AHMEDABADAddition of unexplained investment - Delivery of possession of land - Held that - Assessee had given the possession of land in February-2009 to the purchaser and the purchaser could enjoy the fruits of property only after that date - the seller may retain the deed pending payment of price and in that case there is no transfer until the price is paid and the deed is delivered - Hence the assessee has rightly treated the transfer of land in AY 2009-10 and therefore the AO was not right in taxing the income on sale of land in AY 2008-09 - Decided in favor of assessee
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