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2017 (9) TMI 1861 - AT - Income TaxCapital gain computation - JDA - receipt of adjustable advance/earnest money and benefits in expectancy with in the ambit of transfer as contemplated u/s 53A of Transfer of Property Act - transfer as contemplated u/s 2(47) - HELD THAT:- As decided in C.S. ATWAL VERSUS ACIT [2015 (7) TMI 878 - PUNJAB & HARYANA HIGH COURT] we find that the order of Ld. CIT(A) is not sustainable as the Hon'ble. Court has decided that under these circumstances the capital gain has to be restricted to the proportionate amount of sale consideration received during the year and the rest of the capital gain will be taxable in the year in which rest of the consideration is received. Therefore the Assessing Officer is directed compute capital gains tax on the basis of actual receipts during the year.
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