Tax Implications on Co-Owner's Long-Term Capital Gains from Property Ownership Transfer Under Capital Gains Category.

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Full Text of the Document

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....Long Term Capital Gain - possessory right - transfer of ownership by co-owner(not the assessee) of his share - in registered conveyance deed, it was acknowledged by all the concerned parties that assessee held a possessory right in the property - transfer of such rights or interest in the property is taxable under the head “Capital Gains”....