M/S. Govind Impex (P) Ltd. & Ors vs Appropriate Authority Income Tax Deptt

The Supreme Court addressed the interpretation of lease agreements under Section 269UC and Section 269UA(f)(i) of the Income-tax Act, determining that a lease with an option to renew for an additional term constitutes a lease exceeding 12 years. The Court held that the total duration of the lease, including renewals, must be considered for the applicability of Chapter XXC of the Act. Consequently, the appeal was dismissed, affirming the High Court's ruling that the lease was subject to the provisions of the Income-tax Act.