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2009 (7) TMI 856 - HC - Income TaxProvision of section 26 --Whether the Income-tax Appellate ribunal was legally justified in holding that income from the property `Aggarwal Market' is to be assessed in the hands of each of the co-owners separately and not in the hands of AOP - Hence, the Division Bench of this court in the case relating to Aggarwal Market being Income-tax Appeal No. 53 of 2003, CIT v. Aggarwal Market decided on July 26, 2007 and W.T.R. No. 134 of 1999, CWT v. Anil Aggarwal decided on July 12, 2007 has taken a similar view - In view of the discussion, the questions are answered in favour of the assessee and against the Revenue.
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