https://www.taxtmi.com/caselaws?id=466716 Section 13 exemption is not denied where trustees' collective interest in the hospital-property lessee remains below the statutory related-party threshold. In that situation, the lessee is not treated as a related concern, sections 13(1)(c) and 13(2)(a) and (b) do not apply, and actual rent cannot be replaced with notional rent derived from a valuation report. Interest taxation on transition from receipt to accrual accounting requires exclusion of interest that accrued in an earlier year but was taxed on receipt basis in the current year, preventing double taxation. Computation must be verified and corresponding relief granted. en-us Wed, 05 Feb 2025 00:00:00 +0530 Tue, 17 Feb 2026 19:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466716 Section 13 exemption is not denied where trustees' collective interest in the hospital-property lessee remains below the statutory related-party threshold. In that situation, the lessee is not treated as a related concern, sections 13(1)(c) and 13(2)(a) and (b) do not apply, and actual rent cannot be replaced with notional rent derived from a valuation report. Interest taxation on transition from receipt to accrual accounting requires exclusion of interest that accrued in an earlier year but was taxed on receipt basis in the current year, preventing double taxation. Computation must be verified and corresponding relief granted. Case-Laws Income Tax Wed, 05 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466716