https://www.taxtmi.com/caselaws?id=9881 The High Court of Allahabad consolidated two references regarding the ownership of a house property in Varanasi under the Income-tax Act, 1961. The court determined that the property belonged to the assessee's wife after she took over his membership in the cooperative society, absolving the assessee of tax liability. The court ruled in favor of the assessee, denying the income assessability in his hands for the first reference and affirming it for his wife in the second reference. The judgment clarified ownership principles within a cooperative society and the tax implications related to income from house property, with each party bearing its own costs. en-us Tue, 08 Aug 2006 00:00:00 +0530 Thu, 02 Jul 2009 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9881 The High Court of Allahabad consolidated two references regarding the ownership of a house property in Varanasi under the Income-tax Act, 1961. The court determined that the property belonged to the assessee's wife after she took over his membership in the cooperative society, absolving the assessee of tax liability. The court ruled in favor of the assessee, denying the income assessability in his hands for the first reference and affirming it for his wife in the second reference. The judgment clarified ownership principles within a cooperative society and the tax implications related to income from house property, with each party bearing its own costs. Case-Laws Income Tax Tue, 08 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9881