https://www.taxtmi.com/caselaws?id=60418 Legal ownership remained decisive for taxing notional house property income. Where an assessee owned a house property but merely permitted a partnership firm to use it for business, there was no transfer or divestment of ownership rights. The exemption under section 22 for property occupied by the owner for his own business or profession did not apply because the firm's use could not be treated as the assessee's own occupation. Payment of municipal taxes and related expenses by the firm did not change the ownership position. The notional income was therefore assessable in the assessee's hands under section 23(1)(a), and the deletion of the addition was not sustainable. en-us Wed, 20 Mar 1985 00:00:00 +0530 Wed, 05 Jan 2011 12:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60418 Legal ownership remained decisive for taxing notional house property income. Where an assessee owned a house property but merely permitted a partnership firm to use it for business, there was no transfer or divestment of ownership rights. The exemption under section 22 for property occupied by the owner for his own business or profession did not apply because the firm's use could not be treated as the assessee's own occupation. Payment of municipal taxes and related expenses by the firm did not change the ownership position. The notional income was therefore assessable in the assessee's hands under section 23(1)(a), and the deletion of the addition was not sustainable. Case-Laws Income Tax Wed, 20 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60418