https://www.taxtmi.com/caselaws?id=40079 Municipal property tax could be levied on houses owned by a Municipal Corporation but occupied by allottees under a hire-purchase arrangement. The exemption for buildings and lands "vesting in the Corporation" was construed contextually to apply only where the Corporation held the property in both title and possession and used it itself. Because the allottees were in actual occupation while the Corporation retained title pending instalment completion, the exemption did not apply. Property belonging to the Corporation but occupied by others therefore remained taxable under the Act. en-us Fri, 30 Jan 1987 00:00:00 +0530 Tue, 29 Jul 2014 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40079 Municipal property tax could be levied on houses owned by a Municipal Corporation but occupied by allottees under a hire-purchase arrangement. The exemption for buildings and lands "vesting in the Corporation" was construed contextually to apply only where the Corporation held the property in both title and possession and used it itself. Because the allottees were in actual occupation while the Corporation retained title pending instalment completion, the exemption did not apply. Property belonging to the Corporation but occupied by others therefore remained taxable under the Act. Case-Laws Income Tax Fri, 30 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40079