https://www.taxtmi.com/caselaws?id=37687 A leasehold right in immovable property was treated as an asset under section 2(e) of the Wealth-tax Act, 1957, because it constituted an interest in property and was not within the exclusion for interests available for a period not exceeding six years. The lease in question ran for 21 years, so the tenant's right was chargeable to wealth-tax. The analysis followed the Supreme Court's recognition in P. N. Sikand that a leasehold interest can form part of the taxable net wealth, and the question was answered in favour of the Revenue. en-us Fri, 21 Apr 1978 00:00:00 +0530 Wed, 31 Mar 2010 15:13:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37687 A leasehold right in immovable property was treated as an asset under section 2(e) of the Wealth-tax Act, 1957, because it constituted an interest in property and was not within the exclusion for interests available for a period not exceeding six years. The lease in question ran for 21 years, so the tenant's right was chargeable to wealth-tax. The analysis followed the Supreme Court's recognition in P. N. Sikand that a leasehold interest can form part of the taxable net wealth, and the question was answered in favour of the Revenue. Case-Laws Wealth-tax Fri, 21 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37687