https://www.taxtmi.com/circulars?id=9653 A lessee's option to renew a lease that extends the effective lease period is an interest in property within section 2(e) of the Wealth-tax Act and thus an asset liable to wealth tax; because a conflicting High Court decision is under challenge by way of SLP, the Board directed that assessments follow the Audit interpretation treating such renewal rights as taxable assets to prevent revenue loss. en-us Tue, 10 Dec 1985 00:00:00 +0530 Wed, 08 Jun 2011 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9653 A lessee's option to renew a lease that extends the effective lease period is an interest in property within section 2(e) of the Wealth-tax Act and thus an asset liable to wealth tax; because a conflicting High Court decision is under challenge by way of SLP, the Board directed that assessments follow the Audit interpretation treating such renewal rights as taxable assets to prevent revenue loss. Circulars Income Tax Tue, 10 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9653