Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Execution <strong>of</strong> sale deed<br />
• Payment made but sale deed could<br />
not be executed with in 2yrs; whether<br />
assessee is entitled to benefit u/s 54 <br />
• Legal transfer not mandatory,<br />
payment <strong>of</strong> consideration coupled with<br />
taking over <strong>of</strong> possession is more<br />
important<br />
CIT v. Dr Laxmichand (1995) 211 ITR 804 (Bom(<br />
Bom)<br />
CIT v. Shahzada Begum (1988) 175 ITR 397(AP)