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Income earned by the sale of the property - taxability lies in...

Property Sale Income Taxed on AOP Members as Real Owners, Based on Individual Proportional Holdings.

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Income Tax March 29, 2023 Case Laws AT
Income earned by the sale of the property - taxability lies in the hands of assessee AOP or the members of the assessee AOP - - it was the members of the assessee AOP who were the “real owners” of the impugned property in question, and accordingly income is liable to be taxed in the hands of the respective members, in proportion to their holding. - AT

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Acts Income Tax