Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 871 - ITAT HYDERABADLevy of capital gains - co-ownership - Held that:- Just because her name was mentioned as a vendor, 1/3rd of the capital gains have been brought to tax in her hands, without examining whether she had any title to the property and whether she had received any consideration. Now, that the title itself is disputed, we are of the opinion that the orders passed by the AO and CIT(A) are to be set aside and the entire matter is to be restored to the file of AO to examine afresh and determine whether assessee has any title to the property and whether she has received any consideration. AO is free to examine all the aspects and determine it afresh on the facts of the case and as per the provisions of law. With these directions, the orders of the authorities are set aside and the entire issue is restored to the file of AO for fresh consideration. Assessee should be given due opportunity to make the submissions/presentation of facts.
|