https://www.taxtmi.com/caselaws?id=470630 Long-term capital gains from transfer of immovable property cannot be assessed in the legal titleholder's hands where another person held beneficial ownership and possession, received the entire sale consideration, and was already assessed on that gain. The purchaser paid consideration to the beneficial owner and spouse, deducted tax at source in the beneficial owner's PAN, and the Revenue accepted that the consideration belonged to that person. As the legal titleholder neither received consideration nor beneficially owned the property, taxing the same gain again would result in unjustified multiple taxation. The capital-gains addition was directed to be deleted. en-us Tue, 25 Mar 2025 00:00:00 +0530 Sat, 01 Aug 2026 19:57:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470630 Long-term capital gains from transfer of immovable property cannot be assessed in the legal titleholder's hands where another person held beneficial ownership and possession, received the entire sale consideration, and was already assessed on that gain. The purchaser paid consideration to the beneficial owner and spouse, deducted tax at source in the beneficial owner's PAN, and the Revenue accepted that the consideration belonged to that person. As the legal titleholder neither received consideration nor beneficially owned the property, taxing the same gain again would result in unjustified multiple taxation. The capital-gains addition was directed to be deleted. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470630