The appellant did not file any Return for Assessment Year 2004-2005. Apparently, it was detected later by the Assessing Officer, that the agreement to Sell had been entered into and that, subsequently, a Memo of Compromise had also been entered into between the parties dated 19.07.2003. Assessee first argument was that Section 2(47)(v) of the I.T. Act was attracted on the facts of this case, on a reading of the agreement to sell together with the Power of Attorney. The alternative argument was that, assuming that this argument fails, in any case, this case would fall within Section 2(47)(vi), as on this date, there could be said to be a transaction which has the effect of “enabling the enjoyment of any immovably property”. The third submission made before us was that, in any event, what is relevant to bringing to tax the capital gain in Assessment Year 2004-2005 is whether the compromise deed of 19.07.2003, when read, could be said to fall within any of the clauses under Section 2(47). According to the learned senior counsel, this could not be said to be the case, as a result of which, in any event, there would be no transfer of a capital asset within the meaning of Section 2(47), so far as this Assessment Year is concerned. it is important to advert to a finding of the ITAT, which was that all the cheques mentioned in the compromise deed have, in fact, been encashed. This being the case, it is clear that the assessee’s rights in the said immovable property were extinguished on the receipt of the last cheque, as also that the compromise deed could be stated to be a transaction which had the effect of transferring the immovable property in question. dismiss this appeal