https://www.taxtmi.com/caselaws?id=29355 The court ruled in favor of the assessee, affirming the correct application of Section 23(2) and Section 64(iii) in determining the income from the house constructed by the wife. It emphasized the importance of considering the provisions of the Income Tax Act in assessing income from assets transferred to spouses and determining the annual value of residential properties for taxation purposes. The judgment concluded that if the wife had no other income, the annual value under Section 23(2) would be treated as nil, subject to verification of the wife's other income. en-us Tue, 20 Jul 1982 00:00:00 +0530 Fri, 12 Mar 2010 13:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29355 The court ruled in favor of the assessee, affirming the correct application of Section 23(2) and Section 64(iii) in determining the income from the house constructed by the wife. It emphasized the importance of considering the provisions of the Income Tax Act in assessing income from assets transferred to spouses and determining the annual value of residential properties for taxation purposes. The judgment concluded that if the wife had no other income, the annual value under Section 23(2) would be treated as nil, subject to verification of the wife's other income. Case-Laws Income Tax Tue, 20 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29355