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2022 (10) TMI 688 - HC - Income TaxAssessment of capital gains on account of transfer of property - Transfer of capital asset u/s 2(45) - scope of conditional sale transaction - basic contention of the appellant which was that registration document could not be taken as a conclusive proof to hold that there was transfer resulting in capital gains - ITAT confirming the addition made by the AO - Whether Tribunal was justified in passing the order after the period of 3 months from the date of hearing misunderstanding the letter and spirit of Rule 34(5) of Income Tax (Appellate Tribunal) Rules, 1963 and judicial precedents - HELD THAT:- According to the Tribunal, appellant had already executed a registered sale deed which is treated as valid transfer under Section 2(47)(V) of the Act. The other documents relied upon by the appellant were only pleadings before civil and criminal courts, which proceedings were yet to attain finality. Accordingly, Tribunal upheld the addition of long term capital gains made by the assessing officer as confirmed by the CIT(A). After holding so, Tribunal noted that the appeal was decided after a period of 90 days from the date of hearing; the same was because of the covid lock down situation and referred to the orders passed by the Supreme Court extending limitation. On thorough consideration of all aspects of the matter, we are of the view that no substantial question of law arises out of the order of the Tribunal dated 02.09.2021. Findings returned by the Tribunal are clear findings of fact which does not call for any interference. Appeal as well as I.A. filed for condonation of delay of 76 days in filing the appeal are accordingly dismissed.
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