propery thatbui

house building
from ownerof
-ncone asthe
Para 86.3 come-tar is deemed
Act,
1882, aresatisfied:
iss not overcd by

in section 53A of the Transfer of

Property conditions olgifi
following by way
IC 142. v. Oo Ki.
(or part thereot) |sec. 27(iia)
only if the on. Transfer
Transl23 Kim
operation oniy, fficient-UPLe
suffic
dection 53A comes
into *afion
forconsidet Po Hn
HIai[1929| not
. There should
be a contract
Hla Moumng
onsideration.
v. Moung
An oral
cement
agrcem
is

is notappli. n
section 53A-Maung 53A 152IC42
be writing.
2. The contract
should
on his bchall. Section 2
144 IC 825.
or is nof
property. 53A Subbplicable
Seng[1933] the transferor immovable
v. Ramlaiyanaljl954]
Section
3. It should besigneedby to transfer
Dutt Ch7na
be oftheproperty.
The contrac
fer ofmovable
property-Bhablhi
taken possessionof the property-//201a
to perform
m his part the
case of transfer have
ce should have possession be willing
5. The transferee
shouldnot taken orshould red from hen Cing
if the transferee
has FCR 484. is debarre had taken
the
Raju [1949] performed transferor transferce
Malapalli should have then
the of which
1sferee
transfer
6.The aresatisfied, ofthe property (exclhsd
uding a
any rights one year) in or
contract. is not registered.
conditions inrespect
any right oftransfer who acquires
notexceeding as iIs
If all the oresaid person a
the transferee instrument for period transaction orCrred
against
possession,
even
if the

to
in section
269UA(£)-A
month
to month
or
by virtue
ofany suchlease
a
for period
on (orpart thereoh from the
.
Vear

asreferredleasea from thereof) a

house
Rightby way of (orpartifapersontakes of that building
rights to any building
269UA [ie, the owner or prof
as
with respect
()
of section
is deemed his own
business
his own buiO
to in clause
see para 472.2] [sec.27(iüib)] the ownerfor purpose of or
or more, year 1988-89 by
for the ofsuch business pron
Ssion
assessment

86.3Property
should
not be occupled
occupied
by the owner profit
22,providedthat notional
reason
rent of
income of such ISsessee
S
not

section
value ofproperty underis so,for the business
Annual
is not assessable This computing
assessed. while property. be regarded
profession, of being deduction his own house should to theDeng
is capable in by the firm
allowable
a
as permissible
or profession carried on
a
building
belonging in iSe
on business 22,the
business valueof
is partner,
is not includible
(Mad
e
carrying ofsection Thus,annualletting 180ITR 191
the assessee
Forthepurpose partners. in which 1989J 180ITR 198A
onby all
the
carriedisin the occupation
ofa firm KMJaganmathan|
22-CITv. CITv.N.Vaiadhyanathan[1989]
which undersection 108(Ker.), 799 (Ori.).
oftheassessee Taxman 211 ITR and property belonoino.
[1995] capacity 22willl

PI Mannel[1989]47Bhol
firm in representative under section be?

CIT v. Rabindranath partnerin exemption

HUF
is on
business, 215 ITR 289 (Mad.).
Where karta of firm for carrying [1995] GuruSwamy [1984
by Jeevraj CIT v. A.N.
K.N Guruswamy[19841
HUF is occupied Shri Champalal Court in
to HUF-CIZTv. Karnataka High
available by the reconsideration.
view expressed requires If assesse - an
The contr
it is respectfully
submitted, the main business
and letting out of
146 ITR 34, and incidental to
out issubservient them out to his employees the residential
86.3-1 Where
letting and lets business,
to the main
residential quarters and incidentalassesseefor thepurpose of his business
constructs
is subservient
residential quarters
used by the section22-CITv.
Delhi

will be treated
ashouse property not be chargeable under the assesse,
quarters will if charged by
annual valuethereof
ITR 152(Punj.). Rent, any, the
and,accordingly, of busíness or profession".
If
Co.Lid [1966]59
Cloth &General Mills and gains a branch ot
the head "Profits
in such a case,
is taxable under to the Government for locatingstaff quartes
available
its accommodation office and railway
assessee makes station, central excise is

office,police rent collected nol

nationalised bank,post and smoothly, 2A
on its business efficiently under section
the aim of carrying but is assessable
with from house property'
under the head "Income
chargeable