an assessee sold there property but due to cheques dishonour sale deed has been cancelled & assessing officer raise demand for paying capital gain.
so it's taxable or not
any case law pls??
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capital gain tax
Replies (8)
Did you register cancellation deed?
Any time bar clause in the original agreement for payment term?
If yes, reply accordingly.
No, assessee is not registered any cancellation deed
Basis of agreement cancellation? Any clause in support of the act, in agreement?
Whether possession retained with seller/owner?
owner retained the possession, not any clause mentioned in the agreement
Please submit the required supporting documents
Where will be submitting the docs
AO
Pls provide any case law, if u have
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