|Income Tax Appellate Tribunal
Section 2(47)(v) IT Act | Capital Gains Tax Triggered on Registration of Sale Deed, Not Possession or Payment : ITAT Ahmedabad
ITAT Ahmedabad rules that capital gains tax under Section 2(47)(v) of the Income-tax Act crystallizes upon registration of the sale deed, irrespective of delayed payment or retention of possession. The ruling clarifies that the transfer date for tax purposes is the registration date, impacting taxpayers and advisors on timing of tax liability recognition.