https://www.taxtmi.com/caselaws?id=332436 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision, ruling that the appellant was not the real owner entitled to the income from the sale of a property. The Tribunal found that the beneficial ownership always resided with the builder, who had already included the sale in their accounts. As the appellant did not receive any consideration and the builder was the rightful recipient of the income, the revenue's appeal was dismissed. The judgment emphasized determining the true ownership of the property and the legal principles governing income taxation, resulting in the deletion of the addition for the assessment year 2008-2009. en-us Fri, 12 Aug 2016 00:00:00 +0530 Sat, 17 Sep 2016 11:36:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332436 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision, ruling that the appellant was not the real owner entitled to the income from the sale of a property. The Tribunal found that the beneficial ownership always resided with the builder, who had already included the sale in their accounts. As the appellant did not receive any consideration and the builder was the rightful recipient of the income, the revenue's appeal was dismissed. The judgment emphasized determining the true ownership of the property and the legal principles governing income taxation, resulting in the deletion of the addition for the assessment year 2008-2009. Case-Laws Income Tax Fri, 12 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332436