https://www.taxtmi.com/caselaws?id=262438 The Income-tax Appellate Tribunal allowed the appeal filed by the appellant, a widow, in a case concerning the computation of capital gains. The Tribunal held that the Revenue authorities erred in calculating the capital gains based on gross figures of sale proceeds rather than the actual income received by the appellant. The Tribunal emphasized that the appellant should only be taxed on the income accrued to her as per the legal arrangement with Mr. Laxman Pagare, who received a portion of the sale proceeds. The Tribunal directed the Assessing Officer to delete the addition made and compute the capital gains as declared by the appellant. en-us Tue, 23 Dec 2014 00:00:00 +0530 Tue, 11 Aug 2015 07:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262438 The Income-tax Appellate Tribunal allowed the appeal filed by the appellant, a widow, in a case concerning the computation of capital gains. The Tribunal held that the Revenue authorities erred in calculating the capital gains based on gross figures of sale proceeds rather than the actual income received by the appellant. The Tribunal emphasized that the appellant should only be taxed on the income accrued to her as per the legal arrangement with Mr. Laxman Pagare, who received a portion of the sale proceeds. The Tribunal directed the Assessing Officer to delete the addition made and compute the capital gains as declared by the appellant. Case-Laws Income Tax Tue, 23 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262438