https://www.taxtmi.com/caselaws?id=186930 A long-term unregistered lease with reserved rent and security deposit may, by its real legal effect, amount to a transfer of an interest in immovable property for capital gains purposes, even if registration issues arise under property and registration law. The document also notes that assessment material based on an alleged pakidi payment could not be relied on without confronting the assessees, as that would breach natural justice. At the same time, the surrounding commercial circumstances justified further inquiry, so the proper course was fresh assessment after both sides were given an opportunity to present their case. en-us Tue, 06 Jun 2006 00:00:00 +0530 Tue, 04 Oct 2016 17:02:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186930 A long-term unregistered lease with reserved rent and security deposit may, by its real legal effect, amount to a transfer of an interest in immovable property for capital gains purposes, even if registration issues arise under property and registration law. The document also notes that assessment material based on an alleged pakidi payment could not be relied on without confronting the assessees, as that would breach natural justice. At the same time, the surrounding commercial circumstances justified further inquiry, so the proper course was fresh assessment after both sides were given an opportunity to present their case. Case-Laws Income Tax Tue, 06 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186930