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2005 (2) TMI 78 - HC - Income TaxIncome from property - "Whether Tribunal is right in law in deleting the income from property known as 'Jadhav Bungalow?" - having regard to the object of the Act to tax the income, "owner" is a person who is entitled to receive income from the property in his own right - it is apparent that there is no infirmity in the view taken by the Tribunal which requires this court to interfere. The Tribunal was justified in law in deleting the income from property known as "Jadhav Bungalow" considering the fact that the assessee herein is not in a position to exercise his right as an owner, at least for the years under consideration. – Thus, question referred to the court is, therefore, answered in the affirmative, i.e., in favour of the assessee
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