The Income Tax Appellate Tribunal (ITAT), Bangalore Bench consisting of Beena Pillai, Judicial Member, and Laxmi Prasad Sahu, Accountant Member held that Capital Gain does not attract in case of permissive possession in immovable property and hence not taxable. The assessee, Vani Shree filed a return of income for Assessment Year 2015-16 declaring an income…
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