M/S RAM KRISHAN ASSOCIATE P.LT vs. COMMISSIONER OF INCOME TAX

The following substantial question of law arises: 1.Whether a person though a Licensee but has exclusive rights over a property is not owner for the purposes of Section 22 of the Income Tax Act, 1961? 2.Whether the appellant was/is entitled to 1/5th statutory deduction as claimed in view of various provisions as enshrined u/s 22 to 27 and 269UA of Income Tax or would it constitute income from other sources? Appellant is directed to file the paper-books within three months in accordance with the High Court Rules.

List in due course. VIKRAMAJIT SEN, J . . S. MURALIDHAR, J DECEMBER 08, 2006 'ac' 11