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TMI Blog2019 (6) TMI 1726X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of real ownership - property belonged to the partners or firm - defence of the petitioner was that the property belonged to the individual partners and did not constitute a partnership asset - firm submitted that the property in question had been purchased from a mortgagor in satisfaction of mortgage debt in their capacity as co-owners. HELD THAT:- The issue of ownership of the property has n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd examined by the Commissioner, after taking into account the submissions of the assessee and any supporting evidences that may be produced before him in this regard. The impugned order is thus set aside and the matter is remanded to the file of the Commissioner of Income Tax, who will hear the petitioner de novo and pass a speaking order. - Honourable Dr. Justice Anita Sumanth For the Petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as co-owners. This was sought to be established by reference to sale deed dated 03.04.2006, registered as Document No.879 of 2006. Moreover, the balance consideration had been paid by the partners by way of a loan taken from ING Vysya Bank. These facts emanate prima facie from a reading of the aforesaid sale deed. 3. Notwithstanding this, an order of assessment dated 22.02.2012 had come to be pass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he partners lead him to conclude that the property had been jointly purchased by five partners of the firm. On this ground, he rejects the submissions of the firm and the petition seeking revision of assessment. 6. I am of the view that the issue of ownership of the property has not been appreciated by the respondent in proper perspective. The Commissioner himself states at paragraph 4 (internal p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... into account the submissions of the assessee and any supporting evidences that may be produced before him in this regard. 8. The impugned order is thus set aside and the matter is remanded to the file of the Commissioner of Income Tax, who will hear the petitioner de novo and pass a speaking order. This Writ Petition is disposed of, in the aforesaid terms. Seeing as the matter relates to an order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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