https://www.taxtmi.com/highlights?id=88862 ITAT resolved a capital gains taxation dispute involving an HUF's property transaction. The tribunal found that capital gains should have been computed in the seller/builder's hands, not the assessee-HUF's. Tax deductions by ultimate apartment buyers supported this conclusion. The tribunal determined that the Assessing Officer's addition of capital gains to the HUF's income was erroneous. Consequently, no capital gains would accrue to the assessee-HUF for the assessment year 2016-17, and the impugned addition was deleted. The assessee's appeal was allowed, effectively reversing the previous tax assessment and providing relief to the HUF. en-us Thu, 29 May 2025 08:41:13 +0530 Thu, 29 May 2025 08:41:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88862 ITAT resolved a capital gains taxation dispute involving an HUF's property transaction. The tribunal found that capital gains should have been computed in the seller/builder's hands, not the assessee-HUF's. Tax deductions by ultimate apartment buyers supported this conclusion. The tribunal determined that the Assessing Officer's addition of capital gains to the HUF's income was erroneous. Consequently, no capital gains would accrue to the assessee-HUF for the assessment year 2016-17, and the impugned addition was deleted. The assessee's appeal was allowed, effectively reversing the previous tax assessment and providing relief to the HUF. Highlights Income Tax Thu, 29 May 2025 08:41:13 +0530 https://www.taxtmi.com/highlights?id=88862