https://www.taxtmi.com/caselaws?id=66249 Vacant urban land remained assessable to wealth-tax because the assessee-company retained legal title and control over alienation, despite placing the land at the disposal of a welfare body for recreational use. Permissive occupation did not create adverse possession, and continued liability for municipal levies supported ownership with the assessee. Proceedings under the Urban Land Ceiling law did not vest the property in Government, as no vesting notification had been published. The land also did not qualify for any statutory exclusion from the definition of urban land, including use for employee welfare. The company's objections were rejected and the land was held chargeable to wealth-tax. en-us Wed, 31 Aug 2005 00:00:00 +0530 Wed, 23 Feb 2011 10:46:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66249 Vacant urban land remained assessable to wealth-tax because the assessee-company retained legal title and control over alienation, despite placing the land at the disposal of a welfare body for recreational use. Permissive occupation did not create adverse possession, and continued liability for municipal levies supported ownership with the assessee. Proceedings under the Urban Land Ceiling law did not vest the property in Government, as no vesting notification had been published. The land also did not qualify for any statutory exclusion from the definition of urban land, including use for employee welfare. The company's objections were rejected and the land was held chargeable to wealth-tax. Case-Laws Wealth-tax Wed, 31 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66249