Income from House property
C.I.T. Vs. Gaekwad and Co. 02/17/2005
(2005) 277 ITR 553 (Guj.)
Case Fact: Whether the income from a property being purchased by the assessee, the possession whereof being not obtained by him, can be taxed in his hands?
Decision: Held by the Hon`ble Court that as the assessee has not obtained the possession of the property he was not in a position to exercise his rights as an owner, hence the income from the said property is not taxable in his hands.
Deepak Jain
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