https://www.taxtmi.com/caselaws?id=211794 The court held that Section 194-I of the Income-tax Act was not applicable as each co-owner received less than Rs. 1,20,000 per annum. It was clarified that the limit applies separately to each co-owner. The court ruled that the co-owners did not constitute an Association of Persons and should be assessed individually. The court found that the demand for tax, surcharge, and interest by the Assessing Officer was unjustified as the TDS provisions were not applicable. All appeals were dismissed, confirming individual assessment of co-owners and setting aside the Assessing Officer's order. en-us Mon, 27 Feb 2012 00:00:00 +0530 Tue, 27 Mar 2012 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211794 The court held that Section 194-I of the Income-tax Act was not applicable as each co-owner received less than Rs. 1,20,000 per annum. It was clarified that the limit applies separately to each co-owner. The court ruled that the co-owners did not constitute an Association of Persons and should be assessed individually. The court found that the demand for tax, surcharge, and interest by the Assessing Officer was unjustified as the TDS provisions were not applicable. All appeals were dismissed, confirming individual assessment of co-owners and setting aside the Assessing Officer's order. Case-Laws Income Tax Mon, 27 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211794