https://www.taxtmi.com/caselaws?id=26906 The Tribunal found that the sum of Rs. 1,40,000 invested by the assessee in constructing the house property was advanced as a loan to his wife. As a result, the income from the property was not assessable in the hands of the assessee under section 64(iii) of the Income-tax Act, 1961. The Tribunal upheld the wife's ownership and management of the property based on evidence such as deeds of conveyance, tax receipts, rent receipts, and genuine account books showing loan repayments. The judgment favored the assessee, and no costs were awarded. en-us Wed, 10 Apr 1985 00:00:00 +0530 Tue, 09 Feb 2010 12:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26906 The Tribunal found that the sum of Rs. 1,40,000 invested by the assessee in constructing the house property was advanced as a loan to his wife. As a result, the income from the property was not assessable in the hands of the assessee under section 64(iii) of the Income-tax Act, 1961. The Tribunal upheld the wife's ownership and management of the property based on evidence such as deeds of conveyance, tax receipts, rent receipts, and genuine account books showing loan repayments. The judgment favored the assessee, and no costs were awarded. Case-Laws Income Tax Wed, 10 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26906