https://www.taxtmi.com/caselaws?id=331807 Where a flat is placed in joint name only for convenience or safety, but one person alone funds the purchase, loan repayments, and renovation, that person may be treated as the real owner for tax purposes. On that footing, the full loss from house property was allowable and the 50% disallowance was unsustainable. The same ownership principle applied to transfer of the property: where the co-owner made no contribution, the short-term capital loss could not be restricted to 50% merely because the title deed showed joint names. The full capital loss was therefore allowable to the assessee. en-us Tue, 23 Aug 2016 00:00:00 +0530 Mon, 21 Nov 2016 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331807 Where a flat is placed in joint name only for convenience or safety, but one person alone funds the purchase, loan repayments, and renovation, that person may be treated as the real owner for tax purposes. On that footing, the full loss from house property was allowable and the 50% disallowance was unsustainable. The same ownership principle applied to transfer of the property: where the co-owner made no contribution, the short-term capital loss could not be restricted to 50% merely because the title deed showed joint names. The full capital loss was therefore allowable to the assessee. Case-Laws Income Tax Tue, 23 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331807