https://www.taxtmi.com/caselaws?id=7587 Revocable leasehold salt lands were treated as outside the lessee's wealth-tax base because the lease could be revoked at the end of each season and was therefore not available to the assessee beyond the permissible period. The construction accepted for section 2(e)(v) of the Wealth-tax Act was that the expression covered interests available for a period not exceeding six years. On that footing, the leasehold interest fell within the statutory exception and was not an assessable asset for wealth-tax purposes. en-us Thu, 24 Jul 1969 00:00:00 +0530 Mon, 02 Mar 2009 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7587 Revocable leasehold salt lands were treated as outside the lessee's wealth-tax base because the lease could be revoked at the end of each season and was therefore not available to the assessee beyond the permissible period. The construction accepted for section 2(e)(v) of the Wealth-tax Act was that the expression covered interests available for a period not exceeding six years. On that footing, the leasehold interest fell within the statutory exception and was not an assessable asset for wealth-tax purposes. Case-Laws Wealth-tax Thu, 24 Jul 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7587