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Income Tax - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

Long Term Capital Gain - sale of property - diversion of income ...

Income Tax

May 1, 2020

Long Term Capital Gain - sale of property - diversion of income due to overriding title - whether the sale of the property has been made directly by the SBI and the sale consideration was appropriated to the loan amount? - if the money was routed through the bank account of the assessee before being finally appropriated towards the dues of M/s. PPPL, there cannot be diversion of income by overriding title.

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