https://www.taxtmi.com/caselaws?id=466981 An addition computed as the difference between stamp duty value and actual consideration under the income-tax provision cannot be sustained against a purchaser who furnished no consideration where the purchase was funded entirely by another person who declared the property as his own; the operative test is beneficial ownership and source of funds, not mere inclusion of a name on title. Authorities relied on by Revenue addressing other valuation or civil issues do not speak to levy under this provision; accordingly the tax consequence, if any, should be assessed in the hands of the true funder and owner. en-us Mon, 24 Feb 2025 00:00:00 +0530 Sat, 28 Feb 2026 14:04:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466981 An addition computed as the difference between stamp duty value and actual consideration under the income-tax provision cannot be sustained against a purchaser who furnished no consideration where the purchase was funded entirely by another person who declared the property as his own; the operative test is beneficial ownership and source of funds, not mere inclusion of a name on title. Authorities relied on by Revenue addressing other valuation or civil issues do not speak to levy under this provision; accordingly the tax consequence, if any, should be assessed in the hands of the true funder and owner. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466981