The ITAT ruled that the transfer of booking rights in a capital ...

Transfer of booking rights in 2009-10, not 2008-09. Capital gain deletion directed. Assessee's grounds allowed.

Case Laws Income Tax

June 15, 2024

The ITAT ruled that the transfer of booking rights in a capital asset was completed in AY 2009-10, not AY 2008-09. The agreement to sell was contingent on builder's permission granted in 2008. Therefore, the capital gain addition in AY 2008-09 was deleted, and in AY 2009-10, it was converted from protective to substantive basis. The assessee's grounds were allowed.

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The ITAT ruled that the transfer of booking rights in a capital ...

Transfer of booking rights in 2009-10, not 2008-09. Capital gain deletion directed. Assessee's grounds allowed.

Case Laws Income Tax

June 15, 2024

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