Same income cannot be taxed in the hands of two persons

Dilip Divakaran Kanath Vs ITO (ITAT Mumbai)

ITAT Mumbai held that once whole income i.e. LTCG from sale of joint property purchased is brought to tax in the hands of assessee’s wife and claim is granted by the Coordinate bench, the same income cannot be taxed in the hands of the assessee.

Facts- The assessee and his wife, Mrs. Likhiya Dilip Kanath, jointly purchased a property in Chandivali in the year 2005 in the ratio of 50:50 for ₹.22,50,000 plus registration. Subsequently, they sold the said p

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