The Assessee had purchased a residential house. The flat was purchased in joint names of Mr. Abdul Nayab Shaikh and Mrs. Gulbanu Shaikh (wife). The residential property was in joint name of deceased assessee and his wife Mrs. Gulbanu Shaikh, therefore capital gain ought to have been assessed in hands of deceased assessee and his wife, as according to section 4 of the Act the income has to be assessed in right persons’ hand

The assessee will be eligible for indexation of the property and the claim of deduction under section 54F of the Act The income of the assessee only should be restricted on assessee’s income .(ITA No. 4012/M/2023, dated 07/05/2024, (AY. 2011-12)