https://www.taxtmi.com/caselaws?id=772211 The ITAT Ahmedabad upheld the AO and CIT(A)'s decision to treat receipts from relinquishment of title over land as income from other sources under section 56(2)(vii)(b) rather than capital gains. The assessee claimed long-term capital gains on an unregistered 1992-93 agreement to sale land in a housing society. The tribunal found the assessee failed to demonstrate actual possession or ownership transfer, noting the society's inability to provide clear title documents or return money. The tribunal concluded only rights were transferred, not ownership, justifying taxation as income from other sources rather than capital gains. en-us Tue, 03 Jun 2025 00:00:00 +0530 Thu, 05 Jun 2025 08:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772211 The ITAT Ahmedabad upheld the AO and CIT(A)'s decision to treat receipts from relinquishment of title over land as income from other sources under section 56(2)(vii)(b) rather than capital gains. The assessee claimed long-term capital gains on an unregistered 1992-93 agreement to sale land in a housing society. The tribunal found the assessee failed to demonstrate actual possession or ownership transfer, noting the society's inability to provide clear title documents or return money. The tribunal concluded only rights were transferred, not ownership, justifying taxation as income from other sources rather than capital gains. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772211