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2003 (7) TMI 51 - HC - Income Tax"Whether in view of the fact that the ownership of the appellant over the said property having been accepted by the Tribunal, the Tribunal was legally justified and correct in holding that the income derived from the sale of the said property by the appellant should be treated as income from other sources solely on the ground that the title deed to the said property was not registered?" - Once the interest in the property is transferred to the assessee under the agreement, a further transfer of its interest in the property in favour of the Government of Mizoram would be transfer of the capital asset and the profit earned on such transfer would be a short-term capital gain of the assessee – Thus, we are of the view that the income accrued on account of transfer of the property would be the short-term capital gain – Question is answered in negative
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