Status of AOP - property purchased by the husband and wife in ...

Case Laws Income Tax

September 20, 2016

Status of AOP - property purchased by the husband and wife in the joint names - As per the provisions of Section 45 of the Transfer of Property Act in case of joint ownership of property the share of the co-owner shall be determined as per the ratio of their contribution in the purchase consideration. - AT

View Source

← Previous Next →

Status of AOP - property purchased by the husband and wife in ...

Case Laws Income Tax

September 20, 2016

You may also like:

Indirect contribution of wife in the purchase of the property - Joint properties purchased by husband and wife [housewife] - legal owner - the 1st defendant/wife has...

Benami transaction - availability of joint family property or income - joint family acquisition - Purchase of property in the name of wife (Mrs. A) - Presumption of...

Benami transaction - burden of proof - principle of preponderance of probability that although the suit property was purchased in name of Wife but the consideration...

Deduction u/s 54F is not available to an assessee who owns more than one house property at the time of purchasing a new property. The assessee, despite jointly...

Benami Property Transaction - title over the suit properties - Moreover purchase of a property by husband in the name of the wife cannot be called a benami transaction...

LTCG - Exemption u/s 54 - assessee and her husband purchased the new property in their son’s name - the new residential house need not be purchased by the assessee in...

Deduction u/s 54 - property sold was in the sole name of the assessee and the property purchased was in the joint names of the assessee and his wife - the consideration...

Assessment of income from house property - Co-ownership of property - the property has been purchased by husband and wife in co-ownership jointly. The assessee is not a...

Addition on account of undisclosed income - Addition u/s 68 - Merely because, husband did not inform the death of her wife to the bankers, the entire transaction of...

Unexplained investment u/s 69 - family transaction - assessee has submitted that the assessee’s husband was a power of attorney holder of the property and could not...

Deduction u/s 54 denied - LTCG - New house property was purchased in the name of son - it can be seen that the son of the assessee is a direct relation - In a case,...

Ownership - Mere non-mentioning of the status in the Agreement of purchase or sale does not alter the character of the property especially when the source of funds and...

Exemption u/s 54B - LTCG was invested in the purchase of another agricultural land in the name of his wife - The term “assessee” is qualified by the expression...

Long-term capital gains deduction u/s 54F can be claimed for investment in a residential property not solely owned by the assessee. The assessing officer's sole...

Income from inherit property - Status of three brothers - Individual status or Association of persons (AOP) - This basic test to determine the status of AoP is absent...

Quick Updates: