Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2009 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (10) TMI 621 - ALLAHABAD HIGH COURTWhether 'Transfer' of land from the assessee to the society is transferred u/s 2(47) or not. - Date of transfer - receipt of compensation - amendment w.e.f. 1.4.1988 - Held that:-the submission advanced by learned counsel for the Revenue that registration would relate back to the date of execution of the agreement, which was the date when the agreement was signed and attested and continued to be valid in the eyes of law till the date of registration on December 7, 1984, is not sustainable - there is no evidence of transfer of land to societies existed, the question of capital gains would not arise, and the same would be leviable within the meaning of section 45, as and when compensation is actually received by assessee.
|