Held that though the assessee handed over the land to the buyer and received the sale consideration in the asst. yr. 2008-09 before the sale deed was executed in asst. yr. 2017-18 and offered the capital gains to tax in the asst. yr. 2017-18, the sale consideration cannot be increased by the notional interest for the computation of capital gains. (AY.2017-18)
Deepak Kothari v. ACIT (2025) 237 TTJ 241 / 177 taxmann.com 219 (Delhi) Trib)
S. 45: Capital gains-Agreement of sale-Registration-Assessee handed over the land to the buyer and also received the sale consideration in asst. yr. 2008-09-Provisions of IT Act apply on the basis of real income and not based on notional income-No provision for increasing sale consideration by notional interest.[S. 48]
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