https://www.taxtmi.com/caselaws?id=234576 The tribunal allowed the appeal, ruling that the land transaction was conducted independently by Shri Rama Gameti, and the assessee was not the real beneficiary. The addition made by the AO under Section 50C was deleted, and the profit from the sale of land was not assessed in the hands of the assessee. The judgment highlighted the significance of assessing the financial capacity and circumstances of the parties involved to ascertain the true nature of the transaction. en-us Fri, 07 Jun 2013 00:00:00 +0530 Tue, 18 Jun 2013 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234576 The tribunal allowed the appeal, ruling that the land transaction was conducted independently by Shri Rama Gameti, and the assessee was not the real beneficiary. The addition made by the AO under Section 50C was deleted, and the profit from the sale of land was not assessed in the hands of the assessee. The judgment highlighted the significance of assessing the financial capacity and circumstances of the parties involved to ascertain the true nature of the transaction. Case-Laws Income Tax Fri, 07 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234576