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2016 (9) TMI 803 - AT - Income TaxStatus of AOP - property purchased by the husband and wife in the joint names - Held that:- There is no dispute that the property in question was purchased by the husband and wife in the joint names and no specific share of the husband and wife is mentioned in the purchase document. However, the assessee has filed the additional evidence showing the independent source of the husband and wife for purchase of the property which was pooled into joint account in USA and transferred to India from where the payment was made in the property. Thus the assesses have claimed that when the husband and wife both have contributed their share of purchase consideration then the share in the property is in the ratio of contribution in the purchase consideration. As per the provisions of Section 45 of the Transfer of Property Act in case of joint ownership of property the share of the co-owner shall be determined as per the ratio of their contribution in the purchase consideration. Since the assesses have filed additional evidence in support of the independent source of income and contribution in the purchase consideration which is required to be examined and verified. Accordingly in the facts and circumstances of the case this issue is set aside to the record of the Assessing Officer to examine and verify the additional evidence filed by the assessee and then decide the issue. Taxing the rental income as ‘income from other sources ’ - Held that:- The predominant purpose was letting out the commercial building/property in question and not the lift or air-conditioners fixed in the building. Therefore the charges for common lift and air condition would partake the character of the main purpose of letting out which is the building and accordingly the rental income will be assessed as ‘income from house property’. Hence the orders of the authorities below for this issue was set aside and the claim of the assessee is allowed.
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