Deemed Ownership

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....c): Allottee in Co-operative Society / Company - a member of a co-operative society, company or other association of persons to whom a building or part thereof is allotted or leased under a house building scheme of the society, company or association; • Clause (d): Possession under Part Performance - a person who is allowed to take or retain possession of any building or part thereof in part performance of a contract of the nature referred to in section 53A of the Transfer of Property Act, 1882; • Clause (e): Rights in Property (Long-term Enjoyment) - a person who acquires any rights (excluding any rights by way of a lease from month to month or for a period not exceeding one year) in or with respect....

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....and the transferee acquires a house property out of such cash, the transferor shall not be treated as deemed owner of the house property, such transaction will however attract clubbing provisions. • HOLDER OF AN IMPARTABLE ESTATE: Holder of a importable estate shall be deemed to be the individual owner of all properties comprised in the estate. • MEMBER OF A CO-OPERATIVE SOCIETY: A member of a housing co-operative society, company or other AOPs to whom a building or part thereof is allotted or leased, shall be deemed to be owner of that building or part thereof allotted to him. • PERSON IN POSSESSION OF A PROPERTY: A person who is allowed to take the possession of any building or part thereof in p....

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....within the ambit of Section 69A. An assessee may nevertheless be also regarded as deemed owner if possession is imputed on the assessee and no other person having a better claim is contesting the assessee's claim. In the present case, the assessee was certainly not the owner of the bitumen - but was the carrier who was supplying goods from the consignor- oil marketing companies to the consignee- Road Construction Department. Notably, due to short delivery of goods, the possession of the assessee was unlawful. The inevitable conclusion therefore is that the assessee is not the owner, for the purposes of Section 69A." A person in actual physical control of the property and realising the entire income for his o....

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....ns his right. The term is, however, a nomen generalissimum, and its meaning is to be gathered from the connection in which it is used, and from the subject-matter to which it is applied. The primary meaning of the word as applied to land is one who owns the fee and who has the right to dispose of the property, but the term also includes one having a possessory right to land or the person occupying or cultivating it. The term 'owner' is used to indicate a person in whom one or more interests are vested for his own benefit . . . ." In the same dictionary, the term "ownership" has been defined to mean, inter alia, a "collection of rights to use and enjoy property, including right to transmit it to others ........