https://www.taxtmi.com/caselaws?id=191852 Ownership of immovable property could not be acquired through unregistered assignments derived from a licence, because tangible immovable property requires transfer by registered instrument and section 53A of the Transfer of Property Act gives only a defensive equity, not title. The arrangements with flat purchasers showed that the assessee had passed its entire right, title and interest to the individual holders, with only common management and preservation terms remaining. On that footing, the assessee was not the owner of the building for the relevant assessment years and was not assessable under section 9 as owner of the property. en-us Fri, 24 Feb 1967 00:00:00 +0530 Thu, 27 Apr 2017 16:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191852 Ownership of immovable property could not be acquired through unregistered assignments derived from a licence, because tangible immovable property requires transfer by registered instrument and section 53A of the Transfer of Property Act gives only a defensive equity, not title. The arrangements with flat purchasers showed that the assessee had passed its entire right, title and interest to the individual holders, with only common management and preservation terms remaining. On that footing, the assessee was not the owner of the building for the relevant assessment years and was not assessable under section 9 as owner of the property. Case-Laws Income Tax Fri, 24 Feb 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191852