Section 27(iiib) of the Income Tax Act

Income-tax Act, 2025: s.25

Section 27(iiib) falls under section 27 of the Income-tax Act, 1961, which corresponds to section 25 (Interpretation) of the Income-tax Act, 2025.

Read section 25 of the 2025 Act

Correspondence checked against the ICAI tabular mapping of the two Acts and the BharatTax.co section commentary.

The decision most relied on for Section 27(iiib) is Mrs. Prema P. Shah & Sanjiv P. Shah v. ITO (100 ITD 60), cited in 11 of the 59 judgments on BharatTax that turn on this section.

Leading authorities on Section 27(iiib)

Mrs. Prema P. Shah & Sanjiv P. Shah v. ITO
100 ITD 60 · 2006 · ITAT
11
citing judgments

An assessee can be treated as an absolute owner of a property for the purpose of Section 54 exemption if the lease is for a very long term (150 years) and the rent is a nominal 'peppercorn' rent payable only on demand, making the assessee not duty-bound to pay rent.

Hameed Jaffery v. CIT
227 ITR 724 · 1997 · High Court
8
citing judgments

Judgments on Section 27(iiib)

Machinery & Spares, Mumbai vs. Asst CIT 23(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 4470/MUM/2016[2012-13]Status: DisposedITAT Mumbai31 May 2018AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri M.V. Rajguru
Section 22Section 24bSection 27

Uppu Karunasesh, Chennai vs. JCIT, Chennai

In the result, both the appeals filed by the assessee are allowed

ITA 979/CHNY/2015[2010-11]Status: DisposedITAT Chennai27 Apr 2018AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.978 & 979/Chny/2015 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

For Appellant: Shri D. Anand, AdvocateFor Respondent: Shri Asish Tripathi, JCIT
Section 24Section 25BSection 26Section 27

Uppu Karunasesh, Chennai vs. JCIT, Chennai

In the result, both the appeals filed by the assessee are allowed

ITA 978/CHNY/2015[2009-10]Status: DisposedITAT Chennai27 Apr 2018AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.978 & 979/Chny/2015 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

For Appellant: Shri D. Anand, AdvocateFor Respondent: Shri Asish Tripathi, JCIT
Section 24Section 25BSection 26Section 27

DCIT, Cir-26, Kolkata vs. M/S Tewari Warehousing Company, Kolkata

In the result, Revenue’s appeal stands allowed partly for statistical

ITA 1316/KOL/2016[2010-2011]Status: DisposedITAT Kolkata16 Mar 2018AY 2010-2011

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year:2010-11 Dcit, Circle-26 M/S Tewari Warehousing Co. बनाम / Aayakar Bhawan Hide Shed Dump, Old V/S. Dakshin, 2, Gariahat Goragacha Road, Kolkata-88 Road, (South), [Pan No.Aacft 5579 K] Kolkata-68 .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Arindam Bhattacherjee, Addl. Cit-Dr अपीलाथ" क" ओर से/By Appellant Shri Vikash Surana, Advocate ""यथ" क" ओर से/By Respondent 31-01-2018 सुनवाई क" तार"ख/Date Of Hearing 16-03-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Revenue Is Against The Order Of Commissioner Of Income Tax (Appeals)-7, Kolkata Dated 14.03.2016. Assessment Was Framed By Jcit, Range- 53, Kolkata U/S 143(3)/144 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 28.03.2013 For Assessment Year 2010-11. The Grounds Raised By The Revenue Per Its Appeal Are As Under:- “1. That The Ld. Cit(A) Erred In Directing To Assess The Entire Gross Receipts S Business Income & Allow Deductions As Per Section 28 To 43 Of The It Act When Rental Income Of Rs.2,31,00,000/- Was Already Included In The Gross Receipts. 2. That The Ld. Cit(A) Erred In Deleting The Estimation Of Business Profits Of Rs.2,37,72,132/- Made By The Ao Though Rejection Of Assessee’S Books Of Account U/S 145(3) Considering The Facts Of The Case. 3. That The Ld. Cit(A)’S Order Is Contrary To The Law & Fact Of The Case. 4. The Appellant Craves Leaves To, Add To, Alter Or Modify Any One Or All Of The Grounds Of Appeal Mentioned Above.”

Section 143(3)Section 145(3)Section 194Section 27Section 28

ITO, WD-8(1), Kolkata vs. M/S Batram Properties Pvt. Ltd., Kolkata

In the result the appeal of the revenue is dismissed

ITA 984/KOL/2016[2011-2012]Status: DisposedITAT Kolkata12 Jan 2018AY 2011-2012

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] I.T.A No. 984/Kol/2016 Assessment Year : 2011-12

For Appellant: Shri Arindam Bhattacharjee, Addl.CITFor Respondent: Shri Soumitra Choudhury, Advocate
Section 22Section 27

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

ITA 2378/CHNY/2016[2011-12]Status: DisposedITAT Chennai11 Oct 2017AY 2011-12

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. D. Anand, Advocate
Section 269Section 27Section 53A

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

ITA 2377/CHNY/2016[2010-11]Status: DisposedITAT Chennai11 Oct 2017AY 2010-11

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. D. Anand, Advocate
Section 269Section 27Section 53A

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

ITA 2376/CHNY/2016[2009-10]Status: DisposedITAT Chennai11 Oct 2017AY 2009-10

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. D. Anand, Advocate
Section 269Section 27Section 53A

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

ITA 2375/CHNY/2016[2008-09]Status: DisposedITAT Chennai11 Oct 2017AY 2008-09

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. D. Anand, Advocate
Section 269Section 27Section 53A

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

ITA 2374/CHNY/2016[2007-08]Status: DisposedITAT Chennai11 Oct 2017AY 2007-08

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. D. Anand, Advocate
Section 269Section 27Section 53A

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

ITA 2373/CHNY/2016[2006-07]Status: DisposedITAT Chennai11 Oct 2017AY 2006-07

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. D. Anand, Advocate
Section 269Section 27Section 53A

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

ITA 2372/CHNY/2016[2005-06]Status: DisposedITAT Chennai11 Oct 2017AY 2005-06

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. D. Anand, Advocate
Section 269Section 27Section 53A

Oberoi Buildings & Investments Pvt. Ltd., Kolkata vs. ACIT, Cir-5, Kolkata

In the result, the appeal filed by the assessee (Ground No

ITA 1205/KOL/2014[2007-2008]Status: DisposedITAT Kolkata04 Oct 2017AY 2007-2008

Bench: Shri A. T Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1204/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Vs. A.C.I.T, Circle – 5, Kolkata Oberoi Investments Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2859E (Assessee) .. (Respondent) & आयकरअपीलसं./Ita No.1205/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Oberoi Buildings & Investments Vs. A.C.I.T, Circle – 5, Kolkata Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2860 R (Assessee) .. (Respondent) Assesseeby : Shri A. K. Gupta, Fca Respondent By :Shri Kalyannath, Acit(Dr) सुनवाईकीतारीख/ Date Of Hearing : 07/09/2017 घोषणाकीतारीख/Date Of Pronouncement : 04/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee(Group Companies` Appeals), Pertaining To Assessment Year 2007-08, In Respect Of M/S Oberoi Investments Pvt. Ltd. Andm/S Oberoi Buildings & Investments Pvt. Ltd., Are Directed Against The Orders Passed By The Commissioner Of Income Tax (Appeals)-Vi, Which Oberoi Investments Pvt. Ltd. & Oberoi Buildings & Investments Pvt. Ltd.

For Appellant: Shri A. K. Gupta, FCAFor Respondent: Shri Kalyannath, ACIT(DR)
Section 143(3)Section 14A

Oberoi Investments Pvt. Ltd., Kolkata vs. ACIT Cir-5, Kolkata

In the result, the appeal filed by the assessee (Ground No

ITA 1204/KOL/2014[2007-2008]Status: DisposedITAT Kolkata04 Oct 2017AY 2007-2008

Bench: Shri A. T Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1204/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Vs. A.C.I.T, Circle – 5, Kolkata Oberoi Investments Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2859E (Assessee) .. (Respondent) & आयकरअपीलसं./Ita No.1205/Kol/2014 (िनधा"रणवष" / Assessment Year: 2007-08 Oberoi Buildings & Investments Vs. A.C.I.T, Circle – 5, Kolkata Pvt. Ltd. 4, Mangoe Lane, 6Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aaaco 2860 R (Assessee) .. (Respondent) Assesseeby : Shri A. K. Gupta, Fca Respondent By :Shri Kalyannath, Acit(Dr) सुनवाईकीतारीख/ Date Of Hearing : 07/09/2017 घोषणाकीतारीख/Date Of Pronouncement : 04/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee(Group Companies` Appeals), Pertaining To Assessment Year 2007-08, In Respect Of M/S Oberoi Investments Pvt. Ltd. Andm/S Oberoi Buildings & Investments Pvt. Ltd., Are Directed Against The Orders Passed By The Commissioner Of Income Tax (Appeals)-Vi, Which Oberoi Investments Pvt. Ltd. & Oberoi Buildings & Investments Pvt. Ltd.

For Appellant: Shri A. K. Gupta, FCAFor Respondent: Shri Kalyannath, ACIT(DR)
Section 143(3)Section 14A

Asiatic Stores & Soda Fountain, Mumbai vs. ITO 12(3)(3)

In the result, appeal for the Assessment Year 2006-07 is also partly allowed

ITA 398/MUM/2017[2010-11]Status: DisposedITAT Mumbai27 Sept 2017AY 2010-11

Bench: Shri G.S. Pannu & Shri Ravish Sood

For Appellant: Shri Sanjay KapadiaFor Respondent: Shri V. Justin
Section 143(3)

Asiatic Stores & Soda Fountain, Mumbai vs. ITO 17(1)(2)

In the result, appeal for the Assessment Year 2006-07 is also partly allowed

ITA 397/MUM/2017[2009-10]Status: DisposedITAT Mumbai27 Sept 2017AY 2009-10

Bench: Shri G.S. Pannu & Shri Ravish Sood

For Appellant: Shri Sanjay KapadiaFor Respondent: Shri V. Justin
Section 143(3)

Asiatic Stores & Soda Fountain, Mumbai vs. ITO 17(1)(2)

In the result, appeal for the Assessment Year 2006-07 is also partly allowed

ITA 396/MUM/2017[2008-09]Status: DisposedITAT Mumbai27 Sept 2017AY 2008-09

Bench: Shri G.S. Pannu & Shri Ravish Sood

For Appellant: Shri Sanjay KapadiaFor Respondent: Shri V. Justin
Section 143(3)

Asiatic Stores & Soda Fountain, Mumbai vs. ITO 17(1)(2)

In the result, appeal for the Assessment Year 2006-07 is also partly allowed

ITA 395/MUM/2017[2007-08]Status: DisposedITAT Mumbai27 Sept 2017AY 2007-08

Bench: Shri G.S. Pannu & Shri Ravish Sood

For Appellant: Shri Sanjay KapadiaFor Respondent: Shri V. Justin
Section 143(3)

Asiatic Stores & Soda Fountain, Mumbai vs. ITO 12(3)(3)

In the result, appeal for the Assessment Year 2006-07 is also partly allowed

ITA 394/MUM/2017[2006-07]Status: DisposedITAT Mumbai27 Sept 2017AY 2006-07

Bench: Shri G.S. Pannu & Shri Ravish Sood

For Appellant: Shri Sanjay KapadiaFor Respondent: Shri V. Justin
Section 143(3)

Raj Dadarkar Associates vs. ACIT -CC-46

The appeals are dismissed in terms of the signed

C.A. No.-006455-006460 - 2017Supreme Court09 May 2017

Bench: The High Court On Which High Court Has Rendered The Impugned Judgment, Are The Following: “(1) Whether In The Facts & Circumstances Of The Case & In Law, The Tribunal Erred In Holding That The Appellant Was Owner Of The Shopping Centre Within The Meaning Of Section 22 Read With Section 27 Of The Income Tax Act, 1961? Civil Appeal Nos.6455-6460 Of 2017 (@ Slp (C) Nos. 17277-17282 Of 2015) Page 1 Of 21 Digitally Signed By Nidhi Ahuja Date: 2017.08.08 11:44:38 Ist Reason: Signature Not Verified

Section 22Section 27