https://www.taxtmi.com/caselaws?id=359686 Lease rent paid or payable for land taken on lease and used for a let-out superstructure was excluded while computing income from house property, because the assessee was not the owner of the land and section 22 taxes only the annual value of the building and land appurtenant thereto of which the assessee is the owner. As the land leases were for periods of less than twelve years, the arrangement did not amount to a transfer under section 27(iiib) read with section 269UA(f), and the land component could not be treated as part of the rent attributable to the building. The Tribunal therefore held that the land lease rent was deductible in computing house property income. en-us Fri, 27 Apr 2018 00:00:00 +0530 Thu, 03 May 2018 06:36:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359686 Lease rent paid or payable for land taken on lease and used for a let-out superstructure was excluded while computing income from house property, because the assessee was not the owner of the land and section 22 taxes only the annual value of the building and land appurtenant thereto of which the assessee is the owner. As the land leases were for periods of less than twelve years, the arrangement did not amount to a transfer under section 27(iiib) read with section 269UA(f), and the land component could not be treated as part of the rent attributable to the building. The Tribunal therefore held that the land lease rent was deductible in computing house property income. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359686