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In the result, the appeal filed by the assessee is partly allowed for statistical purposes
Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra
section 53A of the Transfer of Property Act, 1882 (4 of 1882) The appellant stated in his grounds of appeal that he did not receive the consideration with respect to the transaction. However, the receipt of consideration is irrelevant to arising of capital gains. What is material for Capital Gains is whether the possession of the asset in question