https://www.taxtmi.com/caselaws?id=407471 The Tribunal allowed the appeal of the assessee in ITA No.1103/Mum/2019 for A.Y.2015-16, directing the deletion of the addition on the sale consideration of the property. It found that the sale consideration should be distributed among all four individuals involved in the transaction, leading to the removal of the disputed amount of Rs. 44,63,434. The Tribunal also ruled that the clubbing provisions under Section 64(1) of the Income Tax Act were incorrectly applied and should be deleted. Additionally, the chargeability of interest under Section 234C was addressed in line with the overall decision, resulting in a favorable outcome for the assessee. en-us Tue, 27 Apr 2021 00:00:00 +0530 Wed, 12 May 2021 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407471 The Tribunal allowed the appeal of the assessee in ITA No.1103/Mum/2019 for A.Y.2015-16, directing the deletion of the addition on the sale consideration of the property. It found that the sale consideration should be distributed among all four individuals involved in the transaction, leading to the removal of the disputed amount of Rs. 44,63,434. The Tribunal also ruled that the clubbing provisions under Section 64(1) of the Income Tax Act were incorrectly applied and should be deleted. Additionally, the chargeability of interest under Section 234C was addressed in line with the overall decision, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Tue, 27 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407471