ITAT Mumbai Rules: No Capital Gains Tax on Co-Owner Without Beneficial Interest

Last updated: 22 March 2025

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has ruled that an individual listed as a co-owner of a property without actual financial interest cannot be taxed for capital gains upon its sale. The decision came in the case of V N Jain, who jointly held a property with his brother but had n

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