TaxTMI 
TaxTMI 
The assessee (a partner of the firm) paid to bank on the basis of Auction cum Sale agreement towards the property in which the firm is the tenant. where as the assessee did not got registration since the owner of the property had sued the bank against Auction cum sale.
till now the property is not registered in the name of the assessee due to the matter is in court of Law.
whether the assessee(partner of the firm) is the owner?whether this income is taxed under houseproperty or under other source - since he is not the registered owner has only possession of the property?
tax implication on Litigation in ownership
10 Sep 2010 
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Taxation of property income: entitlement, not registration, determines treatment as income from house property.
Registration is not a prerequisite for treating receipts as income from house property; under section 22, "owner" signifies a person entitled to receive income from the property in his own right, so entitlement and factual receipt or right to receive income determine classification under Income from House Property even if formal title registration is pending due to litigation. (AI Summary)
Registration is not a prerequisite for treating receipts as income from house property; under section 22, "owner" signifies a person entitled to receive income from the property in his own right, so entitlement and factual receipt or right to receive income determine classification under Income from House Property even if formal title registration is pending due to litigation. (AI Summary)