Furthermore, the judgment in T.C.A.Nos.675 and 676 of 2017, dated 14.12.2017, has attained finality, as the Revenue has not preferred any appeals against the said judgment. In such circumstances, the Tribunal ought to have followed the earlier orders and allowed the appeals filed by the assessee. On the contrary, by the impugned order, the Tribunal has dismissed the assessee's appeals. The reason assigned by the Tribunal for doing so could be seen in paragraph 4.1 of the impugned order. In the said paragraph, the Tribunal takes note of the judgment of this Court dated 14.12.2017 in T.C.A.Nos.675 and 676 of 2017. However, the Tribunal does not follow the said decision on the ground that the Department had not placed reliance on the judgment of the Hon’ble Supreme Court in the case of CIT vs. Balbir Singh Maini reported in [2017] 86 taxmann.com 94. In the said decision, the Hon’ble Supreme Court pointed out that for the purpose of application of Section 53A of the TP Act, the agreement should be registered, if it is entered after 2001, when Section 17A of the TP Act was amended. The Tribunal holds that the assessee has not registered the sale agreement in the instant case and therefore, the sale/transfer took place only on the date of sale deed executed on 27.04.2009, the capital gain is taxable in the assessment year 2010-11.
