https://www.taxtmi.com/caselaws?id=66001 Pendency of an appeal before the first appellate authority does not by itself divest the Commissioner of revisional jurisdiction under section 263, so revision could proceed on the material before him. However, for section 22, ownership is assessed in relation to the right to enjoy the income from the property: where possession and consideration had passed to the purchasers and they were enjoying the flats, mere retention of legal title pending registration did not justify taxing notional income in the assessee's hands, especially when the same income had already been assessed in the purchasers' hands. The revisional order was therefore unsustainable on merits and the quantum matter was restored for fresh disposal. en-us Fri, 29 Mar 1985 00:00:00 +0530 Sat, 19 Feb 2011 17:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66001 Pendency of an appeal before the first appellate authority does not by itself divest the Commissioner of revisional jurisdiction under section 263, so revision could proceed on the material before him. However, for section 22, ownership is assessed in relation to the right to enjoy the income from the property: where possession and consideration had passed to the purchasers and they were enjoying the flats, mere retention of legal title pending registration did not justify taxing notional income in the assessee's hands, especially when the same income had already been assessed in the purchasers' hands. The revisional order was therefore unsustainable on merits and the quantum matter was restored for fresh disposal. Case-Laws Income Tax Fri, 29 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66001