Matter remitted to the AO to decide the issue of whether the assessee has assigned any interest in immoveable property — It is not ascertainable whether the assessee had any right in the immoveable property, as held by MumTrib in Bachhraj Factories Pvt Ltd v ITO — In favour of: Others; ITA No 55/Mum/2009: (AY 2004–2005).
Further, if there is capital loss arising from the acquisition of the property by the Government in an earlier year, there cannot be capital gains on the transfer of the same property in a subsequent year. The character of compensation received can be determined only when the assessee’s rights in the immoveable property are determined.
Disallowance under s 43B
The payment of employees’ contribution, made before the due date for filing the return, cannot be disallowed under s 43B.
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