Long Term Capital Gain from sale of land - valid transfer of a ...

Case Laws Income Tax

May 30, 2022

Long Term Capital Gain from sale of land - valid transfer of a capital asset or not? - Possession given or not? - The assessee placed reliance on the “Affidavit” of Buyer dated 3/11/2016. This document is titled as “affidavit” on Rs.100/- stamp paper and it is notarised. This notarised document does not have more evidentiary value than the two registered Sale deeds. It was executed three years after the Sale deeds. It is a settled legal proposition that an affidavit is not evidence within the meaning of Section 3 of the Indian Evidence Act,1872 .Affidavits are therefore, not included within the purview of the definition of "evidence" as has been given in Section 3 of the Indian Evidence Act. Therefore, the said document is mere self-serving statement. - AT

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Long Term Capital Gain from sale of land - valid transfer of a ...

Case Laws Income Tax

May 30, 2022

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