https://www.taxtmi.com/caselaws?id=65379 Rental receipts received by a lessee were not assessable as income from house property because the lease did not satisfy the statutory requirements for ownership or deemed ownership, and the lessor retained substantial incidents of ownership. The lease term of 9 years 11 months was insufficient for deemed ownership under the Income-tax Act, so the receipts fell under income from other sources. Once that head of income applied, the disallowance of related expenses made only on the house-property footing could not stand, and the claim had to be re-examined under the correct head of income. The matter was restored only for recomputation of allowable expenses according to law. en-us Fri, 09 Mar 2007 00:00:00 +0530 Tue, 15 Feb 2011 13:19:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65379 Rental receipts received by a lessee were not assessable as income from house property because the lease did not satisfy the statutory requirements for ownership or deemed ownership, and the lessor retained substantial incidents of ownership. The lease term of 9 years 11 months was insufficient for deemed ownership under the Income-tax Act, so the receipts fell under income from other sources. Once that head of income applied, the disallowance of related expenses made only on the house-property footing could not stand, and the claim had to be re-examined under the correct head of income. The matter was restored only for recomputation of allowable expenses according to law. Case-Laws Income Tax Fri, 09 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65379