https://www.taxtmi.com/caselaws?id=56720 The Tribunal ruled in favor of the assessee, stating that the inclusion of Rs. 18,000 as income from property in the assessee's total income for the assessment years 1977-78 and 1978-79 was not justified. The Tribunal held that once a partner brings in immovable property into a partnership, they no longer retain individual ownership rights. Therefore, the property in question belonged to the partnership, and the assessee had no individual ownership after retiring from the partnership. As a result, the Tribunal deleted the inclusion of Rs. 18,000 in each of the years under appeal. en-us Thu, 03 Mar 1983 00:00:00 +0530 Mon, 06 Dec 2010 14:23:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56720 The Tribunal ruled in favor of the assessee, stating that the inclusion of Rs. 18,000 as income from property in the assessee's total income for the assessment years 1977-78 and 1978-79 was not justified. The Tribunal held that once a partner brings in immovable property into a partnership, they no longer retain individual ownership rights. Therefore, the property in question belonged to the partnership, and the assessee had no individual ownership after retiring from the partnership. As a result, the Tribunal deleted the inclusion of Rs. 18,000 in each of the years under appeal. Case-Laws Income Tax Thu, 03 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56720