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2015 (4) TMI 2 - AT - Income TaxComputation of capital gain - year of assessability of the capital gains received by the assessee on the sale of property - Held that:- The possession of the property has been handed over to the purchaser on September 3, 2005. The evidences produced by the assessee, such as, filing of telephone bills and ration card etc. are not the conclusive material. The fact remains that the sale deed was executed on September 3, 2005 and consideration was also received in September, 2005. From the clauses of the sale deed dated September 3, 2005, it is clear that the possession was also handed over in the assessment year 2006-07 itself. Therefore, in our considered view, the Commissioner of Income-tax (Appeals) has rightly confirmed the action of the Assessing Officer in holding that the capital gain on the sale of the property was to be assessed in the assessment year 2006-07. We accordingly confirm the order of the Commissioner of Income-tax (Appeals) - Decided against assessee.
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