https://www.taxtmi.com/caselaws?id=204602 The High Court ruled in favor of the assessee, determining that the income from the property 'Aggarwal Market' should be assessed in the hands of co-owners individually based on their ascertainable shares, in accordance with section 26 of the Income-tax Act. The court upheld the Tribunal's decision, emphasizing that if co-owners' shares are definite and ascertainable, they should be assessed individually rather than as an Association of Persons (AOP). en-us Mon, 13 Jul 2009 00:00:00 +0530 Thu, 20 Dec 2012 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204602 The High Court ruled in favor of the assessee, determining that the income from the property 'Aggarwal Market' should be assessed in the hands of co-owners individually based on their ascertainable shares, in accordance with section 26 of the Income-tax Act. The court upheld the Tribunal's decision, emphasizing that if co-owners' shares are definite and ascertainable, they should be assessed individually rather than as an Association of Persons (AOP). Case-Laws Income Tax Mon, 13 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204602