MAHARANI YOGESHWARI KUMARI Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal has referred the following question of law arising out of its order dated September 29, 1979, in respect of the assessment year 1972- 73 under section 256 (1) of the Income Tax Act, 1961- "whether on the facts and in the circumstances of the case, the Tribunal was right in holding that property income of Rs. 1,00,228/- pertaining to 1/2 share of Tiecion House, Bombay is assessable in the assessment of the assessee for the assessment year 1972-73 ?"

(2.) THE brief facts of the case which are relevant for the determination of the above question are that the assessee had purchased 1/2 share in the immovable property known as Tiecicon House from one Shri S. N. Desai by an assignment deed dated March 29,1967 which was not registered. THE assessee had sold the said 1/2 share to Eklingji Trust under an assignment deed dated September 29, 1970 which was presented before the Sub Registrar for registration on December 24,1970. THE deed so presented was registered on May 17,1975. THE assessee submitted before the assessing authority that the income from such property could not be assessed in her hands as she was legally divested of her title by the deed dated September 21, 1970 which was presented for registration on December 24,1970, and registered on May 17,1975. THE assessing authority rejected the assessee's contention and held that the title of immovable property could pass from the date of registration and he accordingly assessed the income of Rs. 1,00,228/- relating to 1/2 share of such property in the assessments of the assessee.

(3.) RELIANCE has also been placed on the decision in the case of Hall and Anderson (Private )Ltd. V. CIT (6), K. C. Pal Chowdhary V. CIT (7) and Alamati Venkatarmiah V. CIT