[aaykarbhavan] Revenue had rightly taxed capital gains on sale of property in the year in which its possession was handed over

Revenue had rightly taxed capital gains on sale of property in the year in which its possession was handed over

September 26, 2014[2014] 48 taxmann.com 404 (Hyderabad - Trib.)/[2013] 28 ITR(T) 167 (Hyderabad - Trib.)

IT: Where assessee filed his return for assessment year 2007-08 declaring capital gain from sale of property, in view of fact that sale deed was executed on 3-9-2005 and possession of property was also handed over on same date, revenue authorities rightly concluded that capital gain in question was to be assessed in assessment year 2006-07

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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