https://www.taxtmi.com/caselaws?id=428370 Capital gains from a jointly owned flat cannot be taxed in the assessee's hands without first examining her ownership share and whether the sale proceeds were invested in a new residential house for section 54 relief. The commentary also notes that exemption under section 54F in relation to jewellery sale should not be denied where the transaction is supported by invoices and banking records, and the relevant inquiry is investment in residential property. An amount reflected in a return cannot be treated as income from other sources merely because of a stated figure or clerical error unless there is evidence of actual receipt or accrual. en-us Mon, 26 Sep 2022 00:00:00 +0530 Thu, 29 Sep 2022 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428370 Capital gains from a jointly owned flat cannot be taxed in the assessee's hands without first examining her ownership share and whether the sale proceeds were invested in a new residential house for section 54 relief. The commentary also notes that exemption under section 54F in relation to jewellery sale should not be denied where the transaction is supported by invoices and banking records, and the relevant inquiry is investment in residential property. An amount reflected in a return cannot be treated as income from other sources merely because of a stated figure or clerical error unless there is evidence of actual receipt or accrual. Case-Laws Income Tax Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428370