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TMI Blog2004 (11) TMI 97X X X X Extracts X X X X X X X X Extracts X X X X ..... of the wife in lieu of mehar and investment in property, once it had given finding that the Commissioner of Income-tax was correct in fact and in law in setting aside the order of the Income-tax Officer as the Income-tax Officer had framed the assessment without making proper enquiries? 2. Whether in law and circumstances of the case the Tribunal is justified in holding that there is no need to make any further enquiry about the loan from Shri D.K. Gupta? 3. Whether in law and on the facts of the case the Tribunal is justified in excluding the income of property at Nawal Kishore Road, Lucknow, from the assessment of the assessee while there is no legal transfer of that property as itself held by the Tribunal? 4. Whether in law and circum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... property according to the assessee was transferred by him to his wife in discharge of dower debt. The Commissioner of Income-tax was of the opinion that the Income-tax Officer did not make full enquiries in respect of the investment of Rs. 70,000 through loan from Shri D.K. Gupta. He was also of the view that the property at Naval Kishore Road having not been transferred by a registered deed, therefore, the property should be considered in the hands of the assessee. He concluded that the assessment order was erroneous and prejudicial to the interests of the Revenue and, therefore, set aside it and directed the Income-tax Officer to make a fresh assessment and to calculate the taxable income after making full and complete enquiry regarding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etting aside the order passed by the Commissioner of Income-tax. He submitted that it having been found by the Tribunal that the revisional jurisdiction was rightly exercised by the Commissioner of Income-tax as the assessment orders were erroneous and prejudicial to the interests of the Revenue, the Tribunal should not have interfered in appeals. In contra learned counsel for the assessee-respondent placed reliance in extenso on the order of the Tribunal and submitted that the Tribunal rightly considered the material on the record and reached the conclusion that there was no necessity to remand the matter to the assessing authority for fresh consideration. Learned standing counsel has placed reliance upon a judgment of the Supreme Court i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment year 1981-82 the matter was examined in detail by the Income-tax Officer as there was also a further loan by Shri D.K. Gupta to the tune of Rs. 30,000 having interest of Rs. 24,600 which was paid by the assessee. The Tribunal, therefore, concluded that it would be unnecessary for the Income-tax Officer to go into enquiry once again as it would prolong the agony of the assessee and wastage of time and energy. Learned standing counsel could not point out any error to the aforesaid approach of the Tribunal in the matter except that the Tribunal should not have undertaken the exercise upon itself. Therefore, we find no illegality in the order of the Tribunal on this point and answer question No. 2 in affirmative accordingly, i.e., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed section 9 of the old Income-tax Act, 1922 with reference to the word "owner". It has been observed that section 9 (old Income-tax Act) brings to tax the income from property and not the interest of a person in the property. A property cannot be owned by two persons, each one having independent and exclusive right over it. Hence, for the purpose of section 9, the owner must be that person who can exercise the rights of owner, not on behalf of the owner but in his own right. The facts as found do disclose that the property was transferred by the assessee in favour of his wife though without a registered deed. The wife after the transfer started dealing with the property as owner thereof. She let out the property to the tenants and realized ..... X X X X Extracts X X X X X X X X Extracts X X X X
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