https://www.taxtmi.com/caselaws?id=203411 Rental income from property held under a long-term lease and developed by the assessee was treated as assessable under the head income from house property rather than income from business. Section 22 taxes the annual value of property owned by the assessee, and the scope of ownership is enlarged by section 27, including deemed ownership in specified cases. Section 269UA(f) further recognises certain long-term lease transactions for the purposes of sections 22 to 26. On the stated facts, the leasehold rights were sufficient to attract deemed ownership, so the rental receipts fell within house property income and the Revenue's appeal succeeded. en-us Fri, 16 Jul 2010 00:00:00 +0530 Wed, 25 May 2011 01:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203411 Rental income from property held under a long-term lease and developed by the assessee was treated as assessable under the head income from house property rather than income from business. Section 22 taxes the annual value of property owned by the assessee, and the scope of ownership is enlarged by section 27, including deemed ownership in specified cases. Section 269UA(f) further recognises certain long-term lease transactions for the purposes of sections 22 to 26. On the stated facts, the leasehold rights were sufficient to attract deemed ownership, so the rental receipts fell within house property income and the Revenue's appeal succeeded. Case-Laws Income Tax Fri, 16 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203411