9911796707
TMI Blog2011 (7) TMI 785X X X X Extracts X X X X X X X X Extracts X X X X ..... ME Court) that as the assessee was not occupying the land as a lessee under any lease agreement, the property is not exigible to wealth-tax - In the absence of any renewal and in the face of the demand by the lessor for possession-a claim which has been followed up by instituting a suit for eviction-it cannot be said that the assessee has an interest in the property which has vested in it for a pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the assessment years 1984-85, 1985-86, 1987-88, 1988-89, 1990-91 and 1991-92. When the said question arose for consideration, this court held that since the suit as regards the leasehold right was pending and in the absence of any renewal and demand made by the lessor for possession it could not be held that the assessee had an interest in the property which had vested in it for a period exceed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry of possession of the property. Though the assessee in that suit took the plea that it is entitled to renewal, as to whether it is entitled to renewal and, if so, on what terms is a matter which will be determined only when the suit is ultimately decided. The position of the assessee as of now is a precarious position and it is not possible to predict with certainty as to what the outcome of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a suit for eviction-it cannot be said that the assessee has an interest in the property which has vested in it for a period exceeding six years. The third question, therefore, also is required to be and is answered against the Revenue and in favour of the assessee. We must, however, make it clear that in the event of the assessee subsequently securing renewal, whether under the orders of the co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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