COMMISSIONER OF INCOME TAX Vs. PHIROZE H PATCH

JUDGEMENT

(1.) THIS reference pertains to five assessees whose cases have been decided by the Tribunal by a common judgment. The reference pertains to the asst. year 1973 74. The question which is referred to us under S. 256(1) of the IT Act, 1961 is as follows :

(2.) THE five assessees along with one other person were the owners of a property known as 'Adville'. This property consisted of a bungalow with some vacant land appurtenant to it. This property was of the co ownership of the assessees plus one other person. Two of the assessees had 1/6th share in the property and the three assessees had 1/9th share each. The other 6th co owner, who is not before us, held the remaining 1/3rd share. The entire property was in the actual occupation of the six co owners during the two years that preceded the asst. year 1973 74. The income from this property was also being regularly assessed to tax in their hands as income from house property.

(3.) AFTER the sale deed of 23rd Dec., 1972, the assessees continued to reside in the residential bungalow, but as tenants. They paid a monthly rent of Rs. 300 to the purchasers.