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2014 (6) TMI 541 - BOMBAY HIGH COURTSale proceeds of immovable property – Transfer covered u/s 2(47)(v) of the Act or not - Whether the sale proceeds in respect of the immovable property sold by the assessee by agreement for sale is assessable as business income or capital gain under the provisions of the Income Tax Act – Held that:- No record of any appeal have been filed is available - an appeal challenging the finding of fact recorded by the Tribunal has not been filed - revenue has accepted this finding of fact and in relation to the same assessee for prior assessment years - In such circumstances, we do not find that the appeal raises any substantial question of law - in the case of persons to whom the property has been transferred, the relevant date of bringing the income to tax, would be the date on which the entire consideration is received - the possession of the immovable property was not taken or retained - the finding of fact which is recorded by the Tribunal in prior AYs has also been recorded in subsequent AYS and in relation to the same assessee – Decided against Revenue.
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