https://www.taxtmi.com/caselaws?id=261815 The appeal was filed by the Revenue against the Order of the Ld. Commissioner of Income Tax (Appeals) regarding the assessment year 2006-07. The Tribunal found that the assessee, along with his brother and family trust, were legal owners of the land under sale. The AO's conclusion that the assessee was not a legal owner was incorrect, and any forfeited amount would be taxed as income from other sources. The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition in dispute, dismissing the Revenue's appeal. en-us Mon, 20 Jul 2015 00:00:00 +0530 Thu, 23 Jul 2015 07:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261815 The appeal was filed by the Revenue against the Order of the Ld. Commissioner of Income Tax (Appeals) regarding the assessment year 2006-07. The Tribunal found that the assessee, along with his brother and family trust, were legal owners of the land under sale. The AO's conclusion that the assessee was not a legal owner was incorrect, and any forfeited amount would be taxed as income from other sources. The Tribunal upheld the Ld. CIT(A)'s decision to delete the addition in dispute, dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 20 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261815