Right of possession : Where assessee entered into a ‘possession agreement’ for grant of possession of a land and claimed that ‘right of possession’ in respect of such land was a capital asset but assessee failed to establish how he entered into said ‘agreement’ when he was not having ownership of property, matter was to be restored to file of Assessing Officer to examine aforesaid facts – Gunvantbhai Narandas Patel v. Income-tax Officer – [2024] 164 taxmann.com 625 (Ahmedabad – Trib.)
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