https://www.taxtmi.com/caselaws?id=411562 An unregistered lease deed does not, by itself, prevent examination of the true character of a transaction as a lease, since a right to enjoy property may arise expressly or by implication. Where lease receipts were consistently recognised on a proportionate basis over the lease term and there was no material showing tax avoidance, the disclosed accounting treatment could not be disturbed. On that reasoning, the note states that lease deposits or lump-sum leasing charges linked to the lease period could not be brought to tax in full for the year, and the disputed addition was not justified. en-us Tue, 30 Mar 2021 00:00:00 +0530 Sat, 28 Aug 2021 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411562 An unregistered lease deed does not, by itself, prevent examination of the true character of a transaction as a lease, since a right to enjoy property may arise expressly or by implication. Where lease receipts were consistently recognised on a proportionate basis over the lease term and there was no material showing tax avoidance, the disclosed accounting treatment could not be disturbed. On that reasoning, the note states that lease deposits or lump-sum leasing charges linked to the lease period could not be brought to tax in full for the year, and the disputed addition was not justified. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411562