TaxTMI 
TaxTMI 
2006 (3) TMI 66
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....ue relating to the addition of income from the house property at 100 AE Anna Nagar, Chennai? 2. Whether in the facts and circumstances of the case, the assessee's contention that the property at 100AE Anna Nagar, Chennai did not belongs to him and the same belongs to his wife is acceptable?" 2. The relevant facts are as follows : 3. The assessee filed its return of income for the assessment year 1985 -86 on September 30, 1985 on a total income of Rs.91,530. Subsequently, he filed a revised return of income on March 28, 1988 admitting a total income of Rs.91,755. The difference being a sum of Rs.225 between the original return and revised return represents the interest admitted under the head "Other Sources". In t....
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....owards Municipal Tax and Rs.3,600/- towards expenses allowed under section 23(2) of the Act, taking into consideration that the assessee and his wife were living in 1/3rd portion of the property and 2/3rd portion of the property was let out. The said income was treated as income from house property. 5. For the assessment year 1986-87, the assessing officer assessed the total income under the head "Income from house property" at Rs.37,432 taking into consideration the detailed reasons given in the assessment order for the assessment year 1985-86. 6. Aggrieved against the orders of the assessing officer even dated March 27, 1989, the assessee preferred appeals bef....
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....ying with the requirements of law such as Transfer of Property Act, Registration Act etc. and in the context of section 22 of the Act, having regard to the object of the Act, namely, to tax the income, the owner is a person, who is entitled to receive income from the property in his own right and also the amount invested in the purchase of plot and construction of a house in the name of the assessee's wife, had come from the assessee and therefore, the income from such property is taxable in the hands of the assessee, since the Tribunal in the instant case r....