Non delivery of possession to the purchaser by the date of filing of suit proves provisions U/S 2(47) not being applicable: ITAT upholds order of CIT(A) [Read Order]

Non delivery - possession - purchaser - date of filing - suit proves provisions - applicable-ITAT - order - CIT(A)-TAXSCAN

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that no provisions under Section 2(47) of the Income Tax Act is attracted as neither the entire sale consideration was paid by the purchaser nor possession was given by the assessee arising capital gains in the hands of the assessee. The assessee is a…

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