https://www.taxtmi.com/caselaws?id=60133 Summary notes that revisional jurisdiction under section 263 was held unavailable where returns had been accepted under the summary assessment scheme in line with binding Board instructions, so a revision could not rest only on the absence of scrutiny under section 143(1). It also states that instruments labelled as lease deeds were construed as leases, because they contained the essential elements of a fixed-term lease with rent, advance payment adjustable against rent, and only an option to purchase at the end of the term. On that basis, the arrangement was not treated as a sale and no capital gains arose. en-us Mon, 12 Apr 1993 00:00:00 +0530 Mon, 03 Jan 2011 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60133 Summary notes that revisional jurisdiction under section 263 was held unavailable where returns had been accepted under the summary assessment scheme in line with binding Board instructions, so a revision could not rest only on the absence of scrutiny under section 143(1). It also states that instruments labelled as lease deeds were construed as leases, because they contained the essential elements of a fixed-term lease with rent, advance payment adjustable against rent, and only an option to purchase at the end of the term. On that basis, the arrangement was not treated as a sale and no capital gains arose. Case-Laws Income Tax Mon, 12 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60133