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2023 (8) TMI 1072 - AT - Income TaxGain on sale of Joint owned property - correct year of assessment - HELD THAT:- Firstly there seems to be no fault of assessee when the assessee has done everything on 22.03.2011. The documents on record clearly establish that the consideration had been received and possession had also been given by/on 22.03.2011. Secondly, we are consciously aware of the decision of Hamada Ammal Vs. Avadiappa Pathar [1990 (11) TMI 414 - SUPREME COURT] wherein held that vendee gets rights which will be related back on registration from the date of the execution of the sale deed and such rights are protected under Order XXXVIII Rule 10 CPC read together with Section 47 of the Registration Act. The sale-deed even if finally registered on 19.05.2011 would relate back to 22.03.2011 (i.e. date of execution). Being so, we agree to the contention of Ld. AR that the sale of land had taken place on 22.03.2011 in the financial year 2010-11 and the capital gain was taxable in AY 2011-12. The necessary outcome of this is such that the AO has wrongly assessed the capital gain in AY 2012-13 under consideration. Faced with this situation, we are inclined to delete the addition made by AO in AY 2012-13. The assessee succeeds in this claim.
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