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2024 (1) TMI 355 - AT - Income TaxCapital gain addition - Year of chargeability - transfer of capital assets in this year or not? - HELD THAT:- As the year of chargeability as per section 45(3) is the "year in which transfer takes place". The AY in which transfer took place is AY 2011-12 and not the impugned Ay in which assessment is made. On this sole reason, the appeal of the ld AO fails. As following the decision of Honourable High court Blue Heaven Griha Nirman (P.) Ltd [2022 (2) TMI 186 - CALCUTTA HIGH COURT] and also on plain reading of the provision of section 45 (3) of the Act , no addition could have been made in AY 2013-14 in absence of transfer of capital assets in this year. Decided in favour of assessee.
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