Supreme Court · 2017 INSC 1002 · Decided 4 October 2017
Commissioner of Income Tax v. Balbir Singh Maini
- Court
- Supreme Court of India
- Citation
- 2017 INSC 1002 · [2017] 10 S.C.R. 1073
- Case number
- CIVIL APPEAL No. 15619/2017
- Decided
- 4 October 2017
- Bench
- R.F. NARIMAN, SANJAY KISHAN KAUL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Transfer of Property Act Section 53A, 17, 49; Registration Act Section 17(1A), 49, 17; Income Tax Act Section 2(47)
Headnote
Income Tax Act, I961: ss.2(47)(v) and (vi), 45 and 48 - Capital gains tax - Exigibility A B to - Assessees were members of a Co-op_erative Housing Society - C Societies entered into Joint Development Agreement (JDA) with Developers - Developers were required to make payment in four instalments - to the assessees only upto second instalment and 7. 7 acres of land out of the total 21.2 acres of land was conveyed - The said paid amount suffered capital gains tax for assessment years 2007-2008 and 2008-2009 - Further D instalments were never paid as the project got interdicted by judicial
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