https://www.taxtmi.com/caselaws?id=774682 ITAT Ahmedabad held that receipt of Rs. 5,40,000 by assessee as confirming party in property sale constituted capital gain, not income from other sources. AO and CIT(A) incorrectly treated the amount as income from other sources despite assessee being actual owner who sold the property. Since assessee held joint ownership and received consideration for disposal of capital asset, the receipt qualified as capital gain. Tribunal allowed assessee's appeal, following consistent treatment in co-owner's case. en-us Tue, 08 Jul 2025 00:00:00 +0530 Sat, 12 Jul 2025 08:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774682 ITAT Ahmedabad held that receipt of Rs. 5,40,000 by assessee as confirming party in property sale constituted capital gain, not income from other sources. AO and CIT(A) incorrectly treated the amount as income from other sources despite assessee being actual owner who sold the property. Since assessee held joint ownership and received consideration for disposal of capital asset, the receipt qualified as capital gain. Tribunal allowed assessee's appeal, following consistent treatment in co-owner's case. Case-Laws Income Tax Tue, 08 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774682