https://www.taxtmi.com/caselaws?id=786987 Beneficial ownership governs taxability of sale proceeds: where a GPA-holder/vendee received consideration, took possession and acted as beneficial owner, consequent capital gains did not arise in the original vendor; deletion of short-term capital gains addition. Comparative turnover and proportional fuel expenses supported rejection of unexplained expenditure addition under the unexplained expenses test; deletion of fuel-related addition. Bonus payments documented and within statutory limits supported deletion of cash-bonus addition. Disallowance for non-deduction of TDS was deleted for bank interest (TDS-exempt) and allowed to be deleted for NBFC interest subject to verification that recipients disclosed corresponding income. en-us Fri, 20 Feb 2026 00:00:00 +0530 Tue, 24 Feb 2026 08:36:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786987 Beneficial ownership governs taxability of sale proceeds: where a GPA-holder/vendee received consideration, took possession and acted as beneficial owner, consequent capital gains did not arise in the original vendor; deletion of short-term capital gains addition. Comparative turnover and proportional fuel expenses supported rejection of unexplained expenditure addition under the unexplained expenses test; deletion of fuel-related addition. Bonus payments documented and within statutory limits supported deletion of cash-bonus addition. Disallowance for non-deduction of TDS was deleted for bank interest (TDS-exempt) and allowed to be deleted for NBFC interest subject to verification that recipients disclosed corresponding income. Case-Laws Income Tax Fri, 20 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786987