https://www.taxtmi.com/caselaws?id=62027 Chapter XXC deeming ownership applies only where the assessee's rights arise from a transaction falling within the statutory definition of transfer under section 269UA(f), not from a mere lease and sub-letting arrangement. A lease taken for sub-letting, even for a long term, does not by itself make the lessee a deemed owner under section 27(iiib). The Board circular was read as confined to transfer-like situations where the occupier effectively has all rights except legal title, such as section 53A-type arrangements. On that basis, lease rent from sub-letting could not be assessed as income from house property on the footing of deemed ownership. en-us Fri, 31 Jan 2003 00:00:00 +0530 Fri, 20 Dec 2024 21:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62027 Chapter XXC deeming ownership applies only where the assessee's rights arise from a transaction falling within the statutory definition of transfer under section 269UA(f), not from a mere lease and sub-letting arrangement. A lease taken for sub-letting, even for a long term, does not by itself make the lessee a deemed owner under section 27(iiib). The Board circular was read as confined to transfer-like situations where the occupier effectively has all rights except legal title, such as section 53A-type arrangements. On that basis, lease rent from sub-letting could not be assessed as income from house property on the footing of deemed ownership. Case-Laws Income Tax Fri, 31 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62027