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Chitpore Golabari Co. P. Ltd. vs Commissioner Of Income-Tax West ... on 20 May, 1970 cites

Commissioner Of Income-Tax vs Ganga Properties Ltd. on 17 June, 1969

We are, however, not to be understood as determining the point of interpretation of the word "owner" appearing in section 9 of the Indian Income-tax Act, 1922. We are not expressing any opinion whether "owner" in that context means an absolute owner or a limited owner or any qualified owner. In an appropriate case on appropriate fact, this question may have to be determined because the word "owner" in the case of property under section 9 of the Indian Income-tax Act, 1922, may have real property connotations. For instance, a lessor may be the owner of the property for the right of reversion but at the same time the lessee may be the owner of the right of reversion but at the same time the lessee may be the owner of the leasehold rights. Similarly, the mortgagor may be the owner of the right of redemption in the property but the mortgage in possession may be equally the owner of his rights as a mortgagee which are also real property. No doubt, in that event, the annual value of the property would depend on each case what that property is, viz., in the case of lessor the annual value of his right of reversion. In the unreported Division Bench judgment in I. T. Ref. No. 68 of 1965 in Commissioner of Income-tax v. Ganga Properties Ltd. or in any other case on this point, there is no discussion about this aspect of the point involved under section 9 of the Income-tax Act, 1922. But, a decision on that point must await for proper facts. We do not express any opinion on that point.
Calcutta High Court Cites 28 - Cited by 103 - S Mukharji - Full Document
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