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2019 (6) TMI 237 - ITAT MUMBAICapital gain computation - co-ownership - Treating the entire sale proceeds on sale of flat as accruing and arising to the appellant - appellant was only 50% owner of the flat and the balance 50% share belonged to his mother, Malati Apte - HELD THAT:- All documentary evidence clearly shows that the mother of assessee was having equal right, title and interest in the said flat. Moreover, the Collector of Stamp/Registrar also accepted the mother of assessee as one of the co-owner while registered the sale agreement in favour of purchaser. The electivity bills or the society maintenance receipt tax does not prove the title of the property, rather the transfer documents such as sale deeds etc are the only documents to prove the title over the property. However, in the present case, the assessee has shown agreement to sale, power of attorney and payment of consideration, which through the light on the right, title and ownership of the flat. At the cost of repetition, we may refer that the Sub-registrar, under the jurisdiction of which the sale agreement was registered has accepted the mother of the assessee as joint owner and paid the half of the consideration; the assessing officer in absence of adverse evidence should have accepted the joint ownership of the assessee. The assessee has clearly discharged his onus by proving the fact that assessee was joint owner of the flat along with his mother, therefore, in our view, the assessee is entitled for the benefit of LTCG. In the result, the grounds of appeal raised by assessee are allowed.
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