ITAT HYDERABAD on 29th April 2020 held that the sale of the property by the Vendee cum AGPA-holder cannot be considered as sale of property by the assessee when the Vendee has paid the entire sale consideration and has taken possession of the property as the Vendee becomes the owner of the property u/s.53A of the TP Act and u/s.2(47) it is a transfer of the property. Further it is worth noting that except being described as the Vendor, the assessee is neither a signatory to the subsequent Sale Deed nor is he the recipient of any of the sale consideration. In SAMA OM REDDY vs. ITO
