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2021 (1) TMI 409 - AT - Income TaxCapital gain computation - taxability on transfer of land in pursuant to JDA - year of assessment - HELD THAT:- As relying on SHRI SHAFIQ MOHAMMED SHAH [2017 (5) TMI 1168 - ITAT CHENNAI] long term capital gain on transfer of land in pursuant to JDA dated 27.06.2006 accrues for the assessment year 2007-08, when the assessee has physically hand over the land to the developer, but not for the assessment year 2014-15 as considered by the ld.AO on the basis of subsequent sharing agreement dated 10.07.2013. Therefore, we direct the AO to delete additions made towards computation of long term capital gain on transfer of land in pursuant to JDA for the impugned assessment year. Appeal filed by the assessee is allowed.
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