2 Sections 2(47) and 54 – Condition regarding purchase of new property within one year of transfer of old property – Date of agreement to sale was considered as the date of transfer and not the date of conveyance deed.
Jagdish D. Shah, Jagdish T. Punjabi, Chartered Accountants
vs. Income-tax Officer (Kolkata)
Members:A. T. Varkey, (J. M.) and Dr A. L. Saini (A.
A. Y:2012-13Dated: 7th
Counsel for Assessee / Revenue:P. R. Kothari / Rabin Choudhury