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2013 (8) TMI 243 - HC - Income TaxExemption u/s. 54F - Tribunal declined to grant exemption - Held that:- definition of the word ‘transfer’ under section 2[47] of the Act includes situation where transaction involving allowing of possession of any immovable property in part performance of the contract. But that should be made good on material placed on record and through cogent evidence. The claim of the assessee that there was transfer of possession to her under the agreement dated 15.09.2004 has not been made out on acceptable material facts before the three authorities and the finding of all the three authorities is that there is nothing to indicate that assessee was in possession of the subject land even as on 15.09.2004 - No question of law arises - Decided against assessee.
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