{"id":2452,"date":"2018-10-14T04:51:01","date_gmt":"2018-10-14T04:51:01","guid":{"rendered":"http:\/\/itatonline.org\/digest\/gautam-jhunjhunwala-v-ito-koltribwww-itatonline-org\/"},"modified":"2019-03-22T07:00:50","modified_gmt":"2019-03-22T07:00:50","slug":"gautam-jhunjhunwala-v-ito-koltribwww-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/gautam-jhunjhunwala-v-ito-koltribwww-itatonline-org\/","title":{"rendered":"Gautam Jhunjhunwala v. ITO( 2018)  173 ITD 93\/170 DTR 153\/ 195 TTJ 753  (Kol)(Trib),www.itatonline.org"},"content":{"rendered":"<p><strong>Allowing the appeal of the assessee the Tribunal held that , though an unregistered agreement to sell does not entitle the parties to seek part performance u\/s. 53A of the Transfer of Property Act, 1882, it can be a basis for a suit for specific performance in view of S. 49 of the Registration Act. Consequently, even an unregistered agreement creates a right in favour of the buyer and constitutes a &#8220;transfer&#8221; of the old property u\/s 2(47) for purposes of determining whether the purchase of the new property is within one year of the date of &#8220;transfer&#8221; of the old property . (Followed K.B.Saha and Sons Pvt Ltd v.Development Consultant Ltd ( 2008) 8 SCC 564 )\u00a0\u00a0 <\/strong>( ITA. No. 1356\/Kol\/2017, dt. 07.09.2018)(AY. 2012-13)<\/p>\n<p><strong>[Click here to download PDF file]\u00a0<a href=\"http:\/\/itatonline.org\/archives\/wp-content\/uploads\/Gautam-Jhunjhunwala-54-transfer.pdf\">http:\/\/itatonline.org\/archives\/wp-content\/uploads\/Gautam-Jhunjhunwala-54-transfer.pdf<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 54 : Capital gains &#8211; Profit on sale of property used for residence \u2013Unregistered document-Though an unregistered agreement to sell does not entitle the parties to seek part performance u\/s. 53A of the Transfer of Property Act, 1882, it can be a basis for a suit for specific performance in view of S. 49 of the Registration Act. Consequently, even an unregistered agreement creates a right in favour of the buyer and constitutes a &#8220;transfer&#8221; of the old property u\/s 2(47) for purposes of determining whether the purchase of the new property is within one year of the date of &#8220;transfer&#8221; of the old property [ S. 2(47) ,45 , Transfer of Property Act, 1882,S,53A, Registration Act ,1908,17(1)(a), 49 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2452","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Dy","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2452"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2452\/revisions"}],"predecessor-version":[{"id":4501,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2452\/revisions\/4501"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}