2008 (1) TMI 336

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..... th, is not acceptable – since it was a license no right would be created in Citibank - premises therefore would fall within the meaning of “asset” u/s 2(ea), in the hands of assessee and could be included in net wealth of assessee - 188 of 2006 - - - Dated:- 23-1-2008 - F.I. REBELLO and R.S. MOHITE, JJ. F.V. Irani with Mr. A.K. Jasani, for the appellant. A.S. Rao with A.D. Kango and Mr .....

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..... ct of the said premises the Appellant is not occupying the premises for any business or profession carried on by them. The Tribunal, therefore, was right in coming to the conclusion which it arrived at. 3. Alternatively it is submitted that considering the provisions of Section 4(8)(b) it will be an asset in the hands of Citibank and cannot be included in the net wealth of the appellant herein .....

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