respects. It is only this absolute and comprehensive right – this universum jus – that is identified with its object .. .. This compass, however, may be limited to any extent by the adverse of jura in re aliena vested in other persons. The right of the owner of a thing may be all but eaten up by the dominant rights of lessees, mortgagees, and other encumbrances. His ownership may be reduced to a mere name rather than a reality. Yet he nonetheless remains the owner of the thing, while all the others own nothing more than rights over it.” The liability to incometax is attracted by the fact that the assessee is the owner of the property and is not dependent on whether the assessee has the right to receive the income thereof.- S.B. (House and Land) Pvt. Ltd. v. Commissioner of Income-tax, West Bengal , (1979) 119 I.T.R. 785 at pp. 808, 810 (Cal.). Again in Advanced Law Lexicon by P. Ramanatha Aiyar the “Owner” means any person in whose name a motor vehicle stands registered, and where such a person is a minor, the guardian of such minor, and in relation to a motor vehicle which is the subject of a hirepurchase agreement or an agreement of lease or an agreement of hypothecation, the person in possession of the vehicle under that agreement.”
