https://www.taxtmi.com/caselaws?id=169788 A lease deed can transfer ownership of existing structures separately from the land, so the lessee may be treated as owner for income-tax purposes. Reading the deed as a whole, the court found that the lessor intended to pass the old superstructures to the lessee for consideration while retaining the land, and clauses on compensation, reconstruction, repair, inspection, nuisance, and assignment were consistent with that construction. A contractual restriction on alienation did not prevent ownership under the relevant tax provision. The assessee company was therefore correctly assessed on the existing structures, and the answer was in favour of the Revenue. en-us Wed, 10 Feb 1960 00:00:00 +0530 Tue, 05 May 2015 10:42:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169788 A lease deed can transfer ownership of existing structures separately from the land, so the lessee may be treated as owner for income-tax purposes. Reading the deed as a whole, the court found that the lessor intended to pass the old superstructures to the lessee for consideration while retaining the land, and clauses on compensation, reconstruction, repair, inspection, nuisance, and assignment were consistent with that construction. A contractual restriction on alienation did not prevent ownership under the relevant tax provision. The assessee company was therefore correctly assessed on the existing structures, and the answer was in favour of the Revenue. Case-Laws Income Tax Wed, 10 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169788