Supreme Court · 2017 INSC 457 · Decided 9 May 2017
Raj Dadarkar & Associates v. ACIT-CC-46
- Court
- Supreme Court of India
- Citation
- 2017 INSC 457 · [2017] 4 S.C.R. 20
- Case number
- CIVIL APPEAL No. 6455/2017
- Decided
- 9 May 2017
- Bench
- A.K. SIKRI, ASHOK BHUSHAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 22, 27(iiib)
Headnote
' Income Tax Act, 1961: SS. 22 and 27(iiib) - Assessee firm took leasehold rights of stilt area of a portion of a building in auction, on monthly licence - To .. run municipal market -After constructing the market area, gave the same to various persons on sub-licensing basis - Income from the assessed under the head "Profits and Gains of Business or Profession" or under the head "Income from House Property" - Held: The assessee would be treated as deemed owner of the premises in terms of s.27(iiib) and hence its income from the sub·licensed shops in the
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