https://www.taxtmi.com/caselaws?id=285961 The Tribunal upheld the addition of Rs. 50,19,080/- as long-term capital gain from the sale of a residential house, confirming the applicability of Section 50C of the Income Tax Act. The Tribunal rejected the assessee's claims regarding ownership, possession, and the property's status as part of a Hindu Undivided Family, affirming the CIT(A)'s decision. The appeal was dismissed, and the indexed cost of acquisition was upheld, with the Tribunal finding no merit in the assessee's arguments. en-us Mon, 21 Nov 2016 00:00:00 +0530 Wed, 05 Feb 2020 13:59:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285961 The Tribunal upheld the addition of Rs. 50,19,080/- as long-term capital gain from the sale of a residential house, confirming the applicability of Section 50C of the Income Tax Act. The Tribunal rejected the assessee's claims regarding ownership, possession, and the property's status as part of a Hindu Undivided Family, affirming the CIT(A)'s decision. The appeal was dismissed, and the indexed cost of acquisition was upheld, with the Tribunal finding no merit in the assessee's arguments. Case-Laws Income Tax Mon, 21 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285961