‘Agreement to Sell’ will not result in Transfer of Asset for computing Capital Gain: ITAT deletes Addition [Read Order]

Agreement to Sell - Transfer of Asset - Capital Gain - ITAT - taxsacn

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that mere ‘agreement to sell’ would not result in the transfer of assets for the purpose of computing the amount of capital gain under the Income Tax Act, 1961. The assessee is a private limited company and is engaged in the business of real estate…

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