Mrs. X (aged 65 yrs.) received property from her father in a family settlement some 15 yrs. ago.
The property was neither transferred in Mrs. X 's name (no mutation filed) nor the same was included in statement of assets filed with the I.T.Department.
1)Can Mrs. X sell the property today considering the fact that it has not been included in her Assets filed with the IT Dept?
2)Mrs. X is of the view that since no mutation was filed therefore the property does not belong to her.She will be the bonafide owner once the property is tranferred in her name.Is she correct in her opinion?
3)If Mrs. X's opinion holds true will she be able to include the property in her assets (after mutation) for the F.Y. 2009-10 and then dispose off the property.
