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2015 (4) TMI 334 - BOMBAY HIGH COURT

2015 (4) TMI 334 - BOMBAY HIGH COURT - TMI - Computation of capital gain - whether date of indexation must be reckoned as the date on which the final agreement was registered and not the date on which the flat was promised to be handed over to the Assessee? - Held that:- There is no dispute about the facts. The Tribunal found that the flat was agreed to be sold to the present Assessee in the year 1994 and a letter in that behalf was addressed and handed over. The formalities of transfer and hand .....

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to the financial year 1994-95 and only a small sum remained to be paid, which was paid later on, then, the date of indexation should be 24th February, 1994 and not what the Revenue determined in this case. That the Assessee later on sold his flat and that transaction resulted in a loss that while working out that loss this indexation from 1994 was claimed. That was denied and on the above ground but which the Commissioner and the Tribunal have not found to be tenable. No substantial question of .....

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stions of law and which are proposed by the Revenue at page 8 of the paper book. He would submit that the flat which was agreed to be sold was not sold and conveyed till the payment of stamp duty as well as registration charges and execution of final agreement which was registered on 19th March, 1999. Even the physical possession was not given until 14th February, 1999. Therefore, the date of indexation must be reckoned as the date on which the final agreement was registered and not the date on .....

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