https://www.taxtmi.com/caselaws?id=12052 A lease deed with an initial nine-year term and a lessee's option to renew or extend it for a further nine years was treated as a transfer involving a lease for not less than twelve years under section 269UA(f) of the Income-tax Act. The decisive factor was the terms of the executed deed itself, not whether the option was later exercised. The court held that the distinction between "renewal" and "extension" did not alter the substance where the deed contemplated an assured further term at the lessee's option, and the aggregate term was eighteen years. Chapter XX-C therefore applied, and the challenge to the prosecution proceedings failed. en-us Thu, 10 Oct 2002 00:00:00 +0530 Tue, 16 Feb 2010 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12052 A lease deed with an initial nine-year term and a lessee's option to renew or extend it for a further nine years was treated as a transfer involving a lease for not less than twelve years under section 269UA(f) of the Income-tax Act. The decisive factor was the terms of the executed deed itself, not whether the option was later exercised. The court held that the distinction between "renewal" and "extension" did not alter the substance where the deed contemplated an assured further term at the lessee's option, and the aggregate term was eighteen years. Chapter XX-C therefore applied, and the challenge to the prosecution proceedings failed. Case-Laws Income Tax Thu, 10 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12052