https://www.taxtmi.com/caselaws?id=60003 Compensation received for requisitioned immovable property was taxable as income from house property because the assessee continued to remain the owner in substance, retaining the material incidents of ownership despite transfer of possession and enjoyment to the Government. The recurring payment under section 8(2) of the Requisitioning and Acquisition of Immovable Property Act, 1952 was treated as equivalent to rent for use and occupation, not as consideration for a capital transfer. The receipt therefore did not fall under capital gains or income from other sources, and was assessable under the head of house property. en-us Fri, 27 Nov 1987 00:00:00 +0530 Sun, 06 Feb 2011 03:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60003 Compensation received for requisitioned immovable property was taxable as income from house property because the assessee continued to remain the owner in substance, retaining the material incidents of ownership despite transfer of possession and enjoyment to the Government. The recurring payment under section 8(2) of the Requisitioning and Acquisition of Immovable Property Act, 1952 was treated as equivalent to rent for use and occupation, not as consideration for a capital transfer. The receipt therefore did not fall under capital gains or income from other sources, and was assessable under the head of house property. Case-Laws Income Tax Fri, 27 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60003