TMI Blog1995 (4) TMI 1X X X X Extracts X X X X X X X X Extracts X X X X ..... ling to the share of each of the co-owners including the assessee - - - - - Dated:- 4-4-1995 - B. P. JEEVAN REDDY. and G. T. NANAVATI. JUDGMENT The judgment of the court was delivered by B. P. JEEVAN REDDY J.- This appeal is preferred by the Revenue against the judgment of the Calcutta High Court (see [1977] 106 ITR 743) answering the question referred to it in favour of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 23 from out of the annual letting value of the house and then apportioned the balance annual letting value among the co-owners. The respondent's case was that the deduction provided for by section 23(2) should be given separately to each co-owner. It is the said dispute which is reflected in the question referred for the opinion of the High Court. We may state immediately that such a disput ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the property had been let and shall further be reduced by one-half of the amount so determined or one thousand and eight hundred rupees, whichever is less. Section 26, which is the other section relevant for our purpose, along with its Explanation inserted with effect from April 1, 1976, reads thus: "26. Property owned by co-owners.-Where property consisting of buildings or buildings and lands ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at where property consisting of buildings (or buildings and lands appurtenant thereto) is owned by two or more persons and their respective shares are definite and ascertainable, they shall not in respect of such property be assessed as an association of persons, and that the share of each such person in the income from the property as computed in accordance with sections 22 to 25 shall be include ..... X X X X Extracts X X X X X X X X Extracts X X X X
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