https://www.taxtmi.com/caselaws?id=67915 The Tribunal allowed both appeals, concluding that the income from the property should be jointly assessed in the hands of all four parties as co-owners under the relevant provisions of the Income Tax Act. The Tribunal emphasized the parties' intention to jointly own the property and their equal shares, rejecting the argument that the partnership agreement was invalid. It distinguished the case from a Supreme Court decision on tax avoidance, noting the absence of any intention to evade taxation. en-us Thu, 05 Jun 1986 00:00:00 +0530 Tue, 15 Mar 2011 13:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67915 The Tribunal allowed both appeals, concluding that the income from the property should be jointly assessed in the hands of all four parties as co-owners under the relevant provisions of the Income Tax Act. The Tribunal emphasized the parties' intention to jointly own the property and their equal shares, rejecting the argument that the partnership agreement was invalid. It distinguished the case from a Supreme Court decision on tax avoidance, noting the absence of any intention to evade taxation. Case-Laws Income Tax Thu, 05 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67915