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2018 (12) TMI 1951 - ITAT NAGPURLTCG on sale of land - AO found that assessee is a 'Consentor' and not the owner of the lands sold - legal owner of land - HELD THAT:- We find from the records that assessee had purchased the land through the registered sale deeds and sold the said land for a total consideration of Rs. 1,55,00,000/- through registered sale deed dated 21.04.12. The said sale deed executed by the assessee has shown as a 'Consentor' because the name of the assessee was not mutated in the government record and the purchaser was not ready to purchase the agricultural land without authenticity of land owner. Therefore in such circumstances, there was no alternative that the assessee how to sell the lands with original owners and therefore, assessee executed the sale deed in favour of purchaser in the capacity of owners and had infer the possession of said land. As correctly appreciated by Ld. CIT(A) that the previous owners of the land after execution of sale deeds in favour of assessee in the year 1998-99 had no locus standi &s regards the owner of the land once they had preferred their right title and interest in the said lands in favour of the assessee in the year 1998-99 and till the possession by executing registered sale deed - CIT(A) had correctly concluded that the assessee as Such was the legal owner of both the lands as on execution of sale deed in the year 2012, had earned capital gains and thus allowed the said transaction. The assessee had correctly held to have earned capital gains and was liable to be taxed. - Decided in favour of assessee.
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