https://www.taxtmi.com/caselaws?id=767323 ITAT Mumbai held that where assessee's brother paid entire purchase consideration and had actual possession with 100% rights over property, assessee could not be taxed on capital gains despite being named as joint owner in deed. The tribunal found assessee's name was added only due to natural love and affection, making the brother the sole beneficial owner. Since brother declared entire sale consideration in his return, no basis existed for capital gains addition in assessee's hands. The addition under section 54 was deleted and appeal allowed. en-us Wed, 12 Mar 2025 00:00:00 +0530 Sat, 15 Mar 2025 08:41:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767323 ITAT Mumbai held that where assessee's brother paid entire purchase consideration and had actual possession with 100% rights over property, assessee could not be taxed on capital gains despite being named as joint owner in deed. The tribunal found assessee's name was added only due to natural love and affection, making the brother the sole beneficial owner. Since brother declared entire sale consideration in his return, no basis existed for capital gains addition in assessee's hands. The addition under section 54 was deleted and appeal allowed. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767323