Tribunal confirms capital gain assessment based on property ownership and registration details.

The Tribunal affirmed the dismissal of the appeal against the assessment order by the National Faceless Appeal Centre. It upheld the addition of short term capital gain in the hands of the assessee, emphasizing the legal ownership of the property and the taxation of capital gain based on registration details. The decision was supported by the son's failure to declare any capital gain, leading to the rejection of the assessee's contentions and the confirmation of the Assessing Officer's addition.

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Issues:
1. Dismissal of appeal against assessment order by National Faceless Appeal Centre
2. Addition of short term capital gain in the hands of the assessee
3. Ownership of property and taxation of capital gain

Issue 1: Dismissal of appeal against assessment order
The appeal was filed by the assessee against the appellate order passed by the National Faceless Appeal Centre, Delhi, challenging the assessment order dated 11th December, 2018, passed by the Income Tax Officer, Ward 27(2) (3), Mumbai under Section 143(3) read with section 147 of the Income-tax Act, 1961. Despite notices, the assessee did not appear, and the appeal was decided based on the available information on record.

Issue 2: Addition of short term capital gain
The assessee raised grounds challenging the order of the Assessing Officer (AO) and the Commissioner of Income Tax (Appeals) (CIT(A)). The AO added a short term capital gain of Rs. 10,75,000 as the property was sold by the assessee, even though the purchase funds were provided by her son. The CIT(A) rejected the contention that the son was the real owner, as the property was registered in the name of the assessee. The son did not declare any capital gain in his returns, leading to the addition in the hands of the assessee.

Issue 3: Ownership of property and taxation of capital gain
The Tribunal analyzed the ownership of the property and the taxation of capital gain. The property was sold in the name of the assessee, who was considered the legal owner. Despite the son claiming deductions for housing loan interest, the legal transfer of the property made the assessee liable for capital gain tax. The absence of evidence showing the son declaring capital gain further supported the decision to tax the gain in the hands of the assessee. The Tribunal upheld the orders of the lower authorities, dismissing the appeal of the assessee.

In conclusion, the Tribunal affirmed the dismissal of the appeal, emphasizing the legal ownership of the property and the taxation of capital gain in the hands of the assessee. The decision was based on the registration details and absence of evidence of the son declaring capital gain, leading to the rejection of the assessee's contentions and the confirmation of the addition made by the AO.

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