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2021 (3) TMI 780 - AT - Income TaxAddition on account of long term capital gain - Transfer of capital asset u/s 2(47) - Transfer in question effected in which A.Y. - HELD THAT:- As decided in MORMASJI MANCHARJI VAID [2001 (6) TMI 58 - GUJARAT HIGH COURT] as pleased to give credence on the date of transfer of possession of the property by way of transferring the right, title and interest of the property and not the date of registration of the deed of conveyance. Thus, we find that the ratio laid down in the above passed by the Jurisdictional High Court has rightly been applied by the Ld. CIT(A) by holding the said transfer took place on 23.02.2011 when the possession was handed over to the purchaser relevant to the A.Y. 2011-12 and consequently deleting the addition without any ambiguity so as to warrant interference. Hence, the appeal preferred by Revenue is found to be devoid of any merit and hence dismissed. Revenue’s appeal is dismissed.
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