COMMISSIONER OF INCOME TAX Vs. SHAKUNTALA RAJESHWAR

JUDGEMENT

(1.) These 41 ITCs can be disposed of by a common order. They arise out of assessments of the six applicants to Income Tax for the assessment years 1972-73, 1973-74, 1974-75 and 1975-76, the relevant previous years being the immediately preceding financial years. It seems that all the applications preferred by the six applicants have not been placed before us and it is likely that some of their applications are still pending in this court but not yet listed or at earlier stages. However, the applications in the case of one of them, viz., Smt. Shakuntala Rajeshwar, are complete and, since the question involved in the case of all the applicants arises out of similar facts, we shall refer, in disposing of these applications, to the facts in the case of Smt. Shakuntala Rajeshwar, without discussing separately the position in regard to each of the other assesseds. The reasons given for the decision on the applications preferred by Smt. Shakuntala Rajeshwar will be applicable mutates mutants in the cases of the other applicants as well.

(2.) In the case of Smt. Shakuntala Rajeshwar, there are twelve applications which arise out of three orders passed by the Income Tax Appellate Tribunal in relation to the assessment years 1972-73 to 1975-76.

(3.) These applications arise in the following circumstances : The applicants are six out of the seventeen co-sharers of property No. 24, Barakhamba Road, New Delhi. The above property consisting of land as well as a bungalow constructed thereon had originally been leased out by the Secretary of State for India in favor of M/s. Badri Nath Diwan Chand under a perpetual lease deed dated February 4, 1938. M/s. Badri Nath Diwan Chand conveyed their interest in the land as well as the bungalow to Sri Prem Nath by a deed of conveyance dated May 16, 1938. Thereafter, there were various partitions and settlements in the family of Sri Prem Nath with the details of which we are not concerned. It is sufficient to say that by December 24, 1971, the property came to be owned by seventeen co-owners.