https://www.taxtmi.com/caselaws?id=20609 Rental income from office flats held under an agreement for sale was treated as assessable as income from other sources, because the assessee was only in possession and letting the flats, not under an arrangement conferring ownership for income-tax purposes. Clauses requiring payment of outgoings, insurance, membership obligations, and permitting re-entry on breach did not make the transaction a revocable transfer under section 63. Construed as a whole, the document created a lease-like interest with a lessor's right of re-entry for valuable consideration, so the statutory concept of revocable transfer did not govern the arrangement. en-us Thu, 12 Mar 1992 00:00:00 +0530 Mon, 16 Nov 2009 11:06:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20609 Rental income from office flats held under an agreement for sale was treated as assessable as income from other sources, because the assessee was only in possession and letting the flats, not under an arrangement conferring ownership for income-tax purposes. Clauses requiring payment of outgoings, insurance, membership obligations, and permitting re-entry on breach did not make the transaction a revocable transfer under section 63. Construed as a whole, the document created a lease-like interest with a lessor's right of re-entry for valuable consideration, so the statutory concept of revocable transfer did not govern the arrangement. Case-Laws Income Tax Thu, 12 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20609