Assessee liable to equal tax on the income from house property where joint owner's shares are not mentioned in sale deed

Last updated: 17 February 2023

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The Income Tax Appellate Tribunal (ITAT) Delhi has ruled that if a property is jointly owned by a husband and wife, and the sale deed does not specify their individual shares, they will be considered to have equal ownership. Consequently, the income generated from the property will be taxed equally between them. This decision was made in a case where the assessee claimed a lesser share, but the tribunal found no evidence to support this claim, relying on the lack of defined shares in the sale deed.

Court :
ITAT, Delhi

Brief :
The ITAT, Delhi in Smt. Shivani Madan v. ACIT [ITA No. 1642/Del/2020 dated January 5, 2023] has held that the husband and wife will have equal shares in the house property purchased by them as joint owners, wherein, the sale deed had been executed and the shares of co-owners is not specified. Further, the assessee would be liable to pay tax on the 50% of the income from house property.

Citation :
ITA No. 1642/Del/2020 dated January 5, 2023

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1 Year PLAN

1999

(Excl. of GST ₹359)

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3499

(Excl. of GST ₹629)

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4999

(Excl. of GST ₹899)

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Judgement posted by

Bimal Jain

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FCA, FCS LLB with21 Yrs of Experience inTaxation Indirect and Direct: Education Qualification: B.Com (Hons) Chartered Accountants Company Secretary LLB Qualified SAP FI/CO Consultants Professional Membership: Chairmanof Indirect Tax Committee of PHD Chamber of Commerce Member of Indirec ... Read more

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