Held that receipt of advance payment by cash cannot be assessed as cash credits. Long term capital gains is assessable in the year of the entire sale consideration. Matter remanded to the Assessing Officer for verification.(AY.2015-16)
Ranveer Singh Chauhan v. ITO (2024)114 ITR 18 (SN)(Delhi)(Trib)
S. 68 : Cash credits-Sale of agricultural land-Dishonour of cheque-Receiving back advance payment by cash-Sale not materialised-No long term capital gains-Matter remanded to for verification. [S. 45]
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