TaxTMI 
TaxTMI 
2002 (10) TMI 54
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....of this court treated this petition as an application under section 482 of the Criminal Procedure Code. Briefly stated the facts leading to this petition are that vide registered lease deed dated May 31, 1991, the petitioners jointly let out front portion of the property bearing No. B-68, Greater Kailash, Part-I, New Delhi, to ANZ Grindlays Bank on monthly rental of Rs. 2,50,000 for a period of nine years. Clause 12 of the said lease deed stipulated that the said lease could be renewed for a further period of nine years at the option of the tenant bank if the latter gave at least three months prior notice expressing his intention for renewal and execute a fresh lease deed. On December 4, 1995, the respondent-Appropriate Authority, Income....
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....ds as under: "Explanation.--For the purposes of this sub-clause, a lease which provides for the extension of the term thereof by a further term or terms shall be deemed to be a lease for a term of not less than twelve years, if the aggregate of the term for which such lease is to be granted and the further term or terms for which it can be so extended is not less than twelve years;" A plain reading of the Explanation to section 269UA(f) makes it clear that if the aggregate term of the lease, i.e., the original term plus stipulated extended period comes to more than 12 years such a lease will attract the provisions of Chapter XX-C of the Act. It is obvious that the application of Chapter XX-C to such lease deed will not depend upon the....
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.... amount of Rs. 2,50,000 subject to the periodic revision as mentioned in later para..." Para. 12 of the lease deed stipulates that for the renewal of the lease for the second term the lessee will have to give three months prior notice and a fresh lease deed will have to be executed and duly registered. Thus, so far as the petitioners are concerned, the lease was intended to be executed for more than 12 years as the renewal/extension of lease was purely at the discretion and option of the lessee. If the lessee opted to renew/extend the lease for the second term, the petitioners could have no objection thereto. So in view of the Explanation to section 269UA(f)(i) of the Act such a lease shall be deemed to be a lease for a term of not less ....
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....f Shukla Malhotra v. Vyasa Bank Ltd. [1998] 73 DLT 124. In the case of Provash Chandra Dalui v. Biswanath Banerjee, AIR 1989 SC 1834, the facts were that the second respondent in the appeal had leased out some land by registered lease deed dated September 26, 1946, for a period of ten years with effect from April 1, 1946, with the stipulation that if the lessee complied with all the terms and conditions of the lease, lease will be extended for five years, i.e., up to March 31, 1961, and then for a further period of one year at an enhanced rate. Under section 5 of the Calcutta Thika Tenancy Act, 1949, a person who holds any land under a registered lease deed for a duration of more than 12 years did not fall within the definition of Thika Ten....