Income Tax - Income earned by the sale of the property - taxability lies...

Income Tax

Income earned by the sale of the property - taxability lies in the hands of assessee AOP or the members of the assessee AOP - - it was the members of the assessee AOP who were the “real owners” of the impugned property in question, and accordingly income is liable to be taxed in the hands of the respective members, in proportion to their holding. - AT

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