https://www.taxtmi.com/caselaws?id=237258 Tenancy rights in premises were treated as a capital asset where long-standing possession, recognised occupation, and rent documents showed the assessee's interest was not a mere permissive use. A person in occupation on the relevant date could become a deemed tenant under section 15A read with section 5(11)(bb) of the Bombay Rent, Hotel and Lodging House Rates Control Act, 1947, and such tenancy rights fell within the wide meaning of property of any kind under the Income-tax Act. Accordingly, consideration received on surrender of those tenancy rights was taxable as capital gains rather than income from other sources. en-us Fri, 12 Oct 2012 00:00:00 +0530 Mon, 28 Oct 2013 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237258 Tenancy rights in premises were treated as a capital asset where long-standing possession, recognised occupation, and rent documents showed the assessee's interest was not a mere permissive use. A person in occupation on the relevant date could become a deemed tenant under section 15A read with section 5(11)(bb) of the Bombay Rent, Hotel and Lodging House Rates Control Act, 1947, and such tenancy rights fell within the wide meaning of property of any kind under the Income-tax Act. Accordingly, consideration received on surrender of those tenancy rights was taxable as capital gains rather than income from other sources. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237258