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1986 (6) TMI 94 - ITAT JAIPURExtract: ....... them the option of owning the liabilities and the properties and share the income equally. We are, therefore, of the view that the income from the property let out as godowns should be assessed jointly in the hands of the four persons treating them as co-owners under s. 26 of the IT Act. 5. In the result, we allow both the appeals of the assessee.
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