29 January 2016
It is not clear in your query whether the capital asset is movable or immovable. The definition as per section 2(14) of the capital asset refers to property of any kind 'held' by an assessee in contradiction to the term 'owner'. In case immovable property, normally the registered title holder or in case of death of registered title holder, his/her legal heirs make the transfer.
29 January 2016
Whether mere possession (not ownership) of immovable property is a capital asset held by assessee & transfer of such property by real owner by giving part consideration to possessor results into capital gain to possessor.
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