1997 (11) TMI 96 - HC - Income Tax

Summary

The High Court of Calcutta ruled that the income from a leasehold property should be assessed as income from 'house property' and not from 'other sources'. The court found that the lessee could not be considered the owner of the property as they did not raise any new construction on the leased land. The Tribunal's decision was overturned, and the judgment was in favor of the Revenue.