https://www.taxtmi.com/caselaws?id=780991 Capital gains on immovable property were to be assessed in the hands of the person who had effectively received the property and sale consideration, not merely the person shown in the sale deed. The documents, book entries, prior assessment history and the retiring partner's actual enjoyment of the properties showed that the properties had already been settled in his favour and the sale proceeds had been received by him. A registered conveyance was not essential where the arrangement enabled enjoyment of immovable property within section 2(47)(vi). Accordingly, the section 50C addition in the firm's hands was not sustainable. en-us Tue, 30 Sep 2025 00:00:00 +0530 Fri, 07 Nov 2025 13:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780991 Capital gains on immovable property were to be assessed in the hands of the person who had effectively received the property and sale consideration, not merely the person shown in the sale deed. The documents, book entries, prior assessment history and the retiring partner's actual enjoyment of the properties showed that the properties had already been settled in his favour and the sale proceeds had been received by him. A registered conveyance was not essential where the arrangement enabled enjoyment of immovable property within section 2(47)(vi). Accordingly, the section 50C addition in the firm's hands was not sustainable. Case-Laws Income Tax Tue, 30 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780991