https://www.taxtmi.com/caselaws?id=200569 A statutory corporation constituted as a body corporate with power to acquire, hold and dispose of property, contract, sue and be sued remains a distinct legal entity from the Union of India, even if it is controlled, financed or directed by the Central Government. On that basis, its property is not "property of the Union" for Article 285 and cannot claim constitutional immunity from State taxation. The challenge to assessment based on annual value also failed because the valuation was found to rest on agreed fair rent. The property tax assessment was therefore upheld. en-us Tue, 27 Jul 1999 00:00:00 +0530 Thu, 30 Aug 2018 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200569 A statutory corporation constituted as a body corporate with power to acquire, hold and dispose of property, contract, sue and be sued remains a distinct legal entity from the Union of India, even if it is controlled, financed or directed by the Central Government. On that basis, its property is not "property of the Union" for Article 285 and cannot claim constitutional immunity from State taxation. The challenge to assessment based on annual value also failed because the valuation was found to rest on agreed fair rent. The property tax assessment was therefore upheld. Case-Laws Indian Laws Tue, 27 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200569