Determining Real Ownership for Capital Gains: Impact on AOP vs. Individual Members Post-1999 Allotment.

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Full Text of the Document

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....Capital gain - real owner of property - Addition in the hands of AOP or members of AOP - once the share of the respective member is allotted by the AOP then the AOP cease to be the owner of the property in question from the year 1999 with respect to the shares which were allotted by issuing the allotment letter. - HC....