“date of transfer”

Capital GainsSection 2(47)Section 2(47)965 judgments

The decision most relied on for date of transfer is CIT v. Balbir Singh Maini (398 ITR 531), cited in 228 judgments on BharatTax.

Leading authorities on date of transfer

CIT v. Balbir Singh Maini

398 ITR 531 · 2017 · Supreme Court

228

citing judgments

A transfer of immovable property, for the purpose of capital gains under section 2(47)(v) of the Income-tax Act, occurs only when the agreement allowing possession in part performance of a contract is a registered instrument, as mandated by Section 53A of the Transfer of Property Act.

Chaturbhuj Dwarkadas Kapadia v. CIT

260 ITR 491 · 2003 · High Court

150

citing judgments

For capital gains purposes, a 'transfer' under section 2(47)(v) occurs and capital gains arise in the year when possession of the property is handed over in part performance of a contract, such as a joint development agreement. This was the settled position before the specific provisions of section 45(5A) were introduced.

Sanjeev Lal v. CIT

365 ITR 389 · 2014 · Supreme Court

122

citing judgments

For claiming capital gains exemption under beneficial provisions like section 54, the 'date of transfer' can be the date of the agreement to sell, particularly when coupled with substantial advance consideration or an enforceable right, adopting a purposive and liberal interpretation to acknowledge the assessee's intent.

Suraj Lamp & Industries (P) Ltd. v. State of Haryana

340 ITR 1 · 2012 · Supreme Court

citing judgments

A transfer of immovable property by way of sale is legally valid only through a duly stamped and registered deed of conveyance. Unregistered instruments like agreements to sell, General Power of Attorney, or wills do not transfer title or create an interest in the property.

CIT v. T.K. Dayalu

202 Taxmann 531 · 2011 · High Court

citing judgments

In a Joint Development Agreement (JDA), capital gains arise for chargeability to tax when the complete control over the property is passed to the developer, with the date of such transfer of control being relevant for determining the assessment year. This includes considerations of possession under Section 53A of the Transfer of Property Act.

PCIT v. Swananda Properties (P.) Ltd.

111 Taxmann.com 94 · 2019 · High Court

citing judgments

Prior to the incorporation of the proviso to section 43CA(1) with effect from 1st April 2019, section 43CA did not envisage any limit regarding the difference between the stamp duty value and the actual sale consideration received by the assessee for the transfer of immovable property that was stock-in-trade.

CIT v. Ashaland Corporation

133 ITR 55 · 1982 · High Court

citing judgments

Income from the sale of immovable property, including any 'on-money' component, is taxable only when the sale is complete, marked by the execution and registration of the sale deed and/or transfer of possession to the buyer.

CIT v. R.L. Sood

245 ITR 727 · 2000 · High Court

citing judgments

Exemption under Section 54 for capital gains on a residential property is available even if the sale deed is not registered within the stipulated time, provided a substantial amount of consideration is paid, or the delay in completion/registration is beyond the assessee's control.

Judgments citing date of transfer

Siel Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the appeals filed by the Revenue for AYs 2006-07, 2012-

ITA 6300/DEL/2015[2003-04]Status: DisposedITAT Delhi26 Mar 2025AY 2003-04

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahman

For Appellant: Shri Taran Deep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR

Section 2Section 2(47)Section 391

assets at cost in its Balance Sheet and transferred the assets at fair market value, i.e., Value of land on the date of transfer was Rs. 15,28,41,099/- and transferred at the value of Rs. 65,00,00,000/- and liquidated the liabilities to that extent ... date of transfer the indexed cost of the land was Rs. 68,31,99,113/-. That means the assessee has settled the value of liabilities of Rs. 65 crores at the cost of Rs.68.32 ITA No.457& 5830/DEL/2016 ITA No.5489 to 5490/DEL/2018 ITA No.516 & 6081/DEL/2016 ITA No.5835 & 5836/DEL/2018 crores

Shreya Singhvi, Jaipur vs. Income Tax Officer Ward 2(2) Jaipur, Jaipur

In the result, the appeal of the assessee is allowed

ITA 204/JPR/2024[2015-2016]Status: DisposedITAT Jaipur25 Mar 2025AY 2015-2016

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalshreya Singhvi, 80, Kiran Marg, Suraj Nagar Jaipur 302 006 Pan No.: Agmps 2639D ...... Appellant Vs.

For Appellant: Mr. Rajeev Sogani, CA, Ld. ARFor Respondent: Mrs. Anita Rinesh, JCIT- Ld. DR

Section 250Section 45Section 54F

this sub-section shall apply where— (a) the assessee, — (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) purchases any residential house, other than the new asset, within a period of one year after the date ... original asset; or (iii) constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original asset; and (b) the income from such residential house, other than the one residential house owned on the date of transfer

Deputy Commissioner of Income Tax, Non-Corporate Circle 7(1), Chennai vs. Vellore Subramanian Saravanan, Chennai

In the result, appeal filed by the Re

ITA 1132/CHNY/2023[2015]Status: DisposedITAT Chennai25 Mar 2025

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr. D. Anand, AdvocateFor Respondent: Ms. Anita, Addl. CIT

Section 54F

should have purchased a residential house in India rchased a residential house in India either one year before or two years after the date of transfer of the either one year before or two years after the date of transfer of the either one year before or two years after ... date of transfer of the ITA & CO No. 18/Chny/2024 CO No. 18/Chny/2024(AY 2015-16) Vellore Subramanian Saravanan Vellore Subramanian Saravanan :: 7 :: residential house which resulted in capital gain or alternatively residential house which resulted in capital gain or alternatively residential house which resulted in capital gain or alternatively constructed

Jasmine Bhaskar Shah, Mumbai vs. PCIT-8, Mumbai

In the result assessee’s appeal bearing ITA No

ITA 997/MUM/2025[2020-21]Status: DisposedITAT Mumbai25 Mar 2025AY 2020-21

Bench: BEFOR SHRI ANIKESH BANERJEE (Judicial Member)

For Appellant: Shri Satyaprakash SinghFor Respondent: Shri Hemant Kumar C Leuva CITDR

Section 143(3)Section 144Section 144BSection 2(47)Section 263Section 54F

this sub-section shall apply where— (a) the assessee,— (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) purchases any residential house, other than the new asset, within a period of one year after the date ... original asset; or (iii) 37constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original asset; and (b) the income from such residential house, other than the one residential house owned on the date of transfer

Income Tax Officer, Mumbai vs. Blue Moon Housing 7 Development Pvt Ltd, Mumbai

In the result, the appeal by the Revenue is allowed, while the cross objection by the assessee is dismissed

ITA 4849/MUM/2024[2013-14]Status: DisposedITAT Mumbai21 Mar 2025AY 2013-14

Bench: Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri Jay BhansaliFor Respondent: Ms. Monika H. Pande, Sr. AR

Section 143(1)Section 143(3)Section 147Section 148Section 250Section 68Section 69

bank statement of P.Saji Textiles Ltd, forming part of the paper book from pages 28-24, we find that immediately on the date of transfer of funds to the assessee, i.e. on 13/09/2012, 10/10/2012, 20/10/2012, and 27/10/2012, there are credit entries. Further, from the bank statement of the assessee, forming

ACIT, Central Circle-1, Nashik vs. Rajendra Rasiklal Shah, Nashik

In the result, the appeal of the Revenue is dismissed

ITA 1015/PUN/2024[2013-14]Status: DisposedITAT Pune20 Mar 2025AY 2013-14

Bench: Dr.Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.1015/Pun/2024 Assessment Year : 2013-14

For Appellant: Shri Sanket JoshiFor Respondent: Shri Ajay Kumar Keshari

Section 143(3)Section 147Section 148Section 250Section 53Section 54

Chandigarh, Civil appeal No. 5899 & 5900 of 2014, dated 01.07.2014. it has been observed by Honorable Supreme Court, while deciding the issue of date of transfer to be considered for allowing deduction u/s 54, as under. "The question to be considered by this Court is whether the agreement to sell ... vendor to the vendee." The Honorable Supreme Court, after observing as above, has laid down that, for the purpose of section 54, the date of transfer shall be considered as the date of agreement to sale and decided the issue in favour of the assessee. 6.10 The Honorable ITAT Bengaluru

ITO-26(2)(1), Mumbai vs. S D N Company, Mumbai

In the result, appeal of the revenue is dismissed

ITA 2457/MUM/2024[2016-17]Status: DisposedITAT Mumbai20 Mar 2025AY 2016-17

Bench: Shri Saktijit Dey, Hon'Ble & Shri Narendra Kumar Billaiya, Hon'Bleι.Τ.Α. No. 2457/Mum/2024

For Appellant: Shri Firoze Andhiyarujina, Sr. Advocate & ManeckFor Respondent: Shri Dr. Kishor Dhule, CIT D/R

Section 14Section 56Section 56(2)(viia)

amount set apart for payment of dividends on preference shares and equity shares where such dividends have not been declared before the date of transfer at a general body meeting of the company; (iii) reserves and surplus, by whatever name called, even if the resulting figure is negative, other than

Sridhar Reddy Bayapu, Hyderabad vs. DCIT., Circle-3(1), Hyderabad

ITA 841/HYD/2024[2016-17]Status: DisposedITAT Hyderabad19 Mar 2025AY 2016-17

Bench: Us:

Section 139(1)Section 143(2)Section 143(3)Section 54Section 54F

appreciated that the requirement of the section is that the assessee is required to purchase one year before or two years after the date of transfer or within a period of three years after that date constructed a residential house, therefore, the assessee satisfied the requirement of section by purchasing ... transfer of the old residential house towards purchase of a new residential house within one year before or two years after the date of transfer of the old residential house; or (ii) investment of the LTCG arising on the transfer of the old residential house towards construction of one residential

M/S Flair Exports Pvt. Ltd., New Delhi vs. ACIT, New Delhi

Appeal is dismissed

ITA 318/DEL/2017[2013-14]Status: DisposedITAT Delhi13 Mar 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Naveen Chandraasstt. Yr: 2012-13

Section 143(3)Section 148Section 45Section 54F

this sub-section shall apply where— (a) the assessee,— (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) purchases any residential house, other than the new asset, within a period of one year after the date ... original asset; or (iii) constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original asset; and (b) the income from such residential house, other than the one residential house owned on the date of transfer

ACIT, Jaipur vs. Udai Buildhome Pvt Ltd, Jaipur

In the result, all the appeals of the revenue are dismissed

ITA 1486/JPR/2024[2018]Status: DisposedITAT Jaipur10 Mar 2025

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, JM आयकर अपील सं. / ITA Nos.1399, 1400, 1401 & 1486/JP/2024 निर्धारण वर्ष / Assessment Years : 2014-15, 2015-16, 2017-18 & 2018-19 Asstt. Commissioner of Income Tax, Central Circle-02, Jaipur बनाम Vs. M/s Udai Buildhome Pvt. Ltd. 302, Golden Sunrise Apartment, Lajpat Marg, C- Scheme, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AABCU 5068 J अपीलार्थी / Appellant निर्धारिती की ओर से / Assessee by: प्रत्यर्थी / Respond

For Appellant: Sh. C.M. Agarwal, CAFor Respondent: Smt. Roshanta Meena, CIT

Section 143(3)Section 153C

searched assesse and other person (appellant) is same in that case the date of recording of satisfaction is treated as the date of transfer of records from the AO of searched person to the AO of the third person/appellant as the question of physical transmission of documents to himself does

ACIT, Jaipur vs. Udai Buildhome Pvt Ltd, Jaipur

In the result, all the appeals of the revenue are dismissed

ITA 1400/JPR/2024[2015]Status: DisposedITAT Jaipur10 Mar 2025

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं. / ITA Nos.1399, 1400, 1401 & 1486/JP/2024 निर्धारण वर्ष / Assessment Years : 2014-15, 2015-16, 2017-18 & 2018-19 Asstt. Commissioner of Income बनाम M/s Udai Buildhome Pvt. Tax, Vs. Ltd. 302, Golden Sunrise Central Circle-02, Jaipur Apartment, Lajpat Marg, C- Scheme, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AABCU 5068 J अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee

For Appellant: Sh. C.M. Agarwal, CAFor Respondent: Smt. Roshanta Meena, CIT

Section 143(3)Section 153C

Kuldeep Singh Shekhawat, Kota vs. ITO W-2(1), Kota

In the result, the appeal of the assessee is allowed

ITA 701/JPR/2024[2016-17]Status: DisposedITAT Jaipur06 Mar 2025AY 2016-17

Bench: Shri Sandeep Gosain & Shri Gagan Goyalkuldeep Singh Shekhawat, 11, Samridhi Traders, Police Line, Gopal Vihar, Baran Road-324001 Pan No. Araps0973M ...... Appellant Vs. Income Tax Officer, Ward-2(1), Kota …... Respondent

For Appellant: Mr. Mahendra Gargieya, Adv., Ld. ARFor Respondent: Mr. Manoj Kumar, JCIT, Ld. DR

Section 139(4)Section 143(3)Section 234ASection 250Section 54Section 54BSection 54F

prescribed period of one year before or two years after (in case of purchase); or three years after (in case of construction) the date of transfer of the long-term capital asset. 9. Invariably, a person is not able to utilize the entire amount of capital gains on or before

ACIT Circle-7, Jaipur vs. Chinrji Lal Sharma, Jaipur

19. As a result, this appeal filed by the department deserves to be

ITA 244/JPR/2024[2021-22]Status: DisposedITAT Jaipur06 Mar 2025AY 2021-22

Bench: This Appellate Tribunal.

For Appellant: Sh. B. P. Mundra, CA &For Respondent: Sh. Arvind Kumar, CIT-DR

Section 11Section 142(1)Section 143(2)Section 19Section 20Section 45Section 54B

Officer that the land sold by him was used by him for agriculture activities for a period of two years immediately preceeding the date of transfer. Further, it has been submitted that when the assessee failed to discharge onus to prove the above said facts, Assessing Officer was justified

Sheela Deepak Gundecha, Pune vs. ITO Ward 2(1), Pune

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 1498/PUN/2024[2011-12]Status: PendingITAT Pune05 Mar 2025AY 2011-12

Bench: Dr.Manish Borad

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Vinod Pawar

Section 143(2)Section 143(3)Section 54

pages, at page 13 it is claimed that the assessee spent Rs.34,13,500/- within a period of three years from the date of transfer or purchase of the plot for construction of new residential property. 8 Sheela Deepak Gundecha Though the assessee has placed on record the copy

Nisha Suresh Maheshwari, Mumbai vs. Income-Tax Officer-35(2)(4), Mumbai

In the result, the appeal filed by the assessee bearing ITA

ITA 4471/MUM/2023[2015-16]Status: DisposedITAT Mumbai04 Mar 2025AY 2015-16

Bench: Shri Amarjit Singh & Shri Anikesh Banerjee

For Appellant: Shri Rajesh ShahFor Respondent: Mr. Leyaqat Ali,Sr.DR

Section 10(38)Section 143(3)Section 250

impugned assessment order, we find that the documents pertaining to the spot delivery contract note, proof of physical transfer, and the date of transfer were not submitted before the Ld. AO. However, the Ld. AR contended that this assertion is incorrect and that all relevant documents were duly filed before

Nisha Suresh Maheshwari, Mumbai vs. Income-Tax Officer-35(2)(4), Mumbai

In the result, the appeal filed by the assessee bearing ITA

ITA 4270/MUM/2023[2014-15]Status: DisposedITAT Mumbai04 Mar 2025AY 2014-15

Bench: Shri Amarjit Singh & Shri Anikesh Banerjee

For Appellant: Shri Rajesh ShahFor Respondent: Mr. Leyaqat Ali,Sr.DR

Section 10(38)Section 143(3)Section 250

Popatrao Dashrathrao Suryawanshi, Pune vs. Income Tax Officer, Ward 7 (3), Pune

In the result, both the appeals filed by the assessee are allowed for statistical purposes

ITA 2789/PUN/2024[2015-16]Status: DisposedITAT Pune28 Feb 2025AY 2015-16

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: Shri Manoj JainFor Respondent: Shri Arvind Desai, Addl CIT DR

Section 139Section 148Section 54B

account of purchase of agricultural land in relevant year, however the capital gain on the transfer of asset is arisen on date of transfer of assets as on 20/01/2011 vide JV Agreement. Thus, the assessee has purchased the agricultural land beyond the period of two years from the date ... entitled for the claim of deduction/exemption u/s 54B as the investment is made beyond the period of two years from the date of transfer of original asset. Therefore, the jurisdictional assessing officer formed belief that income in respect of the information available has escaped assessment for which he reopened

Popatrao Dashrathrao Suryawanshi, Pune vs. Income Tax Officer 7(3), Pune

In the result, both the appeals filed by the assessee are allowed for statistical purposes

ITA 2788/PUN/2024[2014-15]Status: DisposedITAT Pune28 Feb 2025AY 2014-15

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: Shri Manoj JainFor Respondent: Shri Arvind Desai, Addl CIT DR

Section 139Section 148Section 54B

Mr. Jobanji Thakor, Ahmedabad vs. The ITO. Ward-3(2)(2), Ahmedabad

Appeal is partly allowed

ITA 264/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad26 Feb 2025AY 2015-16

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं/Ita No.264/Ahd/2019 निर्धारण वर्ष / Assessment Year : 2015-16 Mr. Jobanji Thakor The Ito F-40, Abugiri Society बनाम / Ward-3(2)(2) Tal. Daskroi, Jagatpur V/S. Ahmedabad Ahmedabad - 382 470 स्थायी लेखा सं./Pan: Aknpt 2930 M (अपीलार्थी/ Appellant) (प्रत्यर्थी / Respondent) Assessee By: Shri Mehul K. Patel, Ar Revenue By : Shri A.P. Singh, Cit-Dr सुनवाई की तारीख/Date Of Hearing 19/02/2025 घोषणा की तारीख / Date Of Pronouncement: 26/02/2025 आदेश/Order Per Makarand V. Mahadeokar, Am: This Appeal By The Assessee Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals)-3, Ahmedabad [Hereinafter Referred To As “Cit(A)"] Dated 28.12.2018, Confirming The Assessment Order Dated 29.12.2017 Passed By The Assessing Officer [Hereinafter Referred To As “Ao”] Under Section 143(3) Of The Income Tax Act, 1961 [Hereinafter Referred To As "The Act"] For The Assessment Year (Ay) 2015-16.

For Appellant: Shri Mehul K. Patel, ARFor Respondent: Shri A.P. Singh, CIT-DR

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 2(14)(iii)Section 54B

Circular No. 359, dated 10.05.1983, and allowed the deduction under Section 54B of the Act, even where the investment was made before the date of transfer of the asset. The assessee reproduced relevant portions of the circular, arguing that an advance payment made towards the purchase of agricultural land should ... support of this contention, reliance was placed on CBDT Circular No. 359 dated 10.05.1983, which clarifies that an investment made before the date of transfer of the original asset should not be denied exemption, provided that the investment meets the prescribed conditions. The AR further relied on the decision

Annirutha Raghuveer, Chennai vs. ITO, Ncw-1(1), Chennai

In the result, appeal filed by the assessee is allow

ITA 2239/CHNY/2024[2014-15]Status: DisposedITAT Chennai26 Feb 2025AY 2014-15

Bench: Shri Aby T. Varkey & Shrimanoj Kumar Aggarwal

For Appellant: Mr. N. Arjun Raj, AdvocateFor Respondent: Smt. D. Babitha, JCIT

Section 139(1)Section 143(3)Section 54Section 54(2)

Since, the assessee has constructed the new residential house Since, the assessee has constructed the new residential house within three years from the date of transfer of original asset within three years from the date of transfer of original asset within three years from the date of transfer of original