TaxTMI 
TaxTMI 
2016 (9) TMI 803
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.... the A.O./CIT (Appeals) in so far as it is against the appellant is against the law, facts, circumstances, natural justice, equity, without jurisdiction, bad in law and all other known principles of law. 2. That the total income and total tax liability computed is hereby disputed. 3. That the assessment made in the status of AOP is bad in law and without jurisdiction requires to be cancelled. 4. That the learned CIT (Appeals) erred in upholding the assessment made in the hands of AOP. 5. The ld. A.O/CIT (Appeals) erred in taxing the rental income of Rs. 8,53,632 letting out building as income from other sources. 6. Without prejudice to the above, the A.O./CIT (Appeals) erred in not allowing depreciation as per law. 7. The ....
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....e any specific adjudication. 4. Ground No.3 & 4 are regarding the status of AOP. 4.1 The learned Authorised Representative of the assessee has submitted that the assesses are husband and wife and Non-Resident Indians (NRIs). The assesses are working in USA and having their joint account in USA as well as in India. The property in question is a commercial property and was purchased by the assesses in their joint names by contributing the purchase consideration from the joint account. Therefore the assesses are having equal share in the property and accordingly rental income of the property as well as service charges of the property are equally shared by the assesses and offered to tax as 'income from house property'. The learned Author....
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....e is no definite share in the property and therefore the Assessing Officer assessed the entire income in the hand of the AOP instead of individual status. The status of individual was not accepted by the Assessing Officer as the sale date under which the property was purchased has not expressly mentioned specific share of the husband and wife. Thus the learned Authorised Representative has submitted that in view of the Section 45 of the Transfer of Property Act as well as the additional evidence filed by the assessee, the share of the husband and wife in the property in question shall be in the ratio of contribution made by them in purchase of the property. 4.2. On the other hand, the learned Departmental Representative has submitted tha....
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....he fund; and, where such consideration is paid out of separate funds belonging to them respectively, they are, in the absence of a contract to the contrary, respectively entitled to interest in such property in proportion to the shares of the consideration which they respectively advanced. In the absence of evidence as to the interests in the fund to which they were respectively entitled, or as to the shares which they respectively advanced, such persons shall be presumed to be equally interested in the property." As per the provisions of Section 45 of the Transfer of Property Act in case of joint ownership of property the share of the co-owner shall be determined as per the ratio of their contribution in the purchase consideration. S....
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....menities of maintenance of generator etc. which are part and parcel of the building and therefore cannot be given a separate and different treatment than 'income from house property.' 5.2 On the other hand, the learned Departmental Representative has relied upon the orders of the authorities below and submitted that the Assessing Officer has given a finding that the let out of the building is inseparable from letting of plant and machinery, furniture and therefore entire income is to be assessed as 'income from other sources' as per section 56(2)(iii) of the Act. 5.3 Having considered the rival submissions and relevant material on record it is noted that this is an isolated case of purchase of property in the joint name by the husband....