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Commissioner of Income Tax-9 Versus M/s. Asgard Properties Pvt Ltd.

2015 (4) TMI 334 - BOMBAY HIGH COURT

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 abo .....

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d to the date of final payment. That was because the agreed price of ₹ 94,40,000/- was not paid in one go or at the time of the allotment letter. A substantial payment was made between 1994-95. Once the last payment alone and which was in the s .....

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ll 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 wh .....

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Appeal No. 1024 of 2013 - Dated:- 30-3-2015 - S. C. Dharmadhikari And A. K. Menon,JJ. For the Appellant : Mr Arvind Pinto For the Repondents : Mr Aarti Vissanji & Mr S J Mehta ORDER P.C. The Revenue is in Appeal against the order of the Income Ta .....

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evenue 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 .....

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to the Assessee. That date 24th February, 1994 cannot, therefore, be taken as the date of indexation. 3. We are unable to agree with Mr. Pinto. There is no dispute about the facts. The Tribunal found that the flat was agreed to be sold to the presen .....

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,000/- was not paid in one go or at the time of the allotment letter. A substantial payment was made between 1994-95. Once the last payment alone and which was in the sum of ₹ 9 lacs and odd was made that the document was executed, registered a .....

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