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TMI Blog1974 (4) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... olds on lease from the Government, the property known as 19, Barakhamba Road, New Delhi, standing on a plot of land measuring 1.327 acres or 6,453 sq. yards. 30% of the area is constructed upon. While 35% of the covered area is self-occupied the remaining 65% of the covered area has been let out and is in occupation of tenants. For the assessment year 1964-65, the relevant valuation date being June 23, 1963, the petitioner returned the value of the said pro perty at Rs. 5 lakhs, which was the accepted value for the assessment years 1961-62 to 1963-64. The Wealth-tax Officer enhanced the value to Rs. 11 lakhs. In appeal, the Appellate Assistant Commissioner confirmed the said valuation. The Tribunal, in second appeal, however, reduced the va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s rental yield. This has made it profitable to construct multi-storeyed buildings for letting out portions thereof to big commercial houses. This has brought about a steady rise in the value of property in this area. This contention of Mr. Dhebar, however, cannot be accepted. The argument proceeds on the footing that the property at present is required to be used as residential property only. This must be on account of some condition to this effect in the lease deed. But it was not explained as to how a mere declaration in the Master Plan would change the terms and conditions of the deed of lease. There is nothing to indicate, if the assessee is required to apply to some authority for converting the user to which the property can be put ; a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, the area having been declared commercial, as contended by the revenue. If, on the other hand, the property had been occupied by tenants, as is the case of the property which we are considering, the vacant possession would not be obtainable. The eviction of the tenants is regulated by section 14 of the Delhi Rent Control Act, 1958, according to which, notwithstanding anything to the contrary contained in any other law or contract, no order or decree for recovery of any premises can be made in favour of the landlord against the tenant. The proviso to the section enumerates certain exceptions. But none of those exceptions is shown to be applicable to the present case. The property in dispute has tenants in occupation of 65% of its covered a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee to have the sale completed in favour of its nominee. In any case, nothing concrete has been brought on record to impart sufficient authenticity to this agreement, which could make it of some assistance to us in this case. It would, therefore, not be safe to rely on this agreement of sale, which, in fact, never matured into a sale to determine the value of the property in question. We also notice that the vendor in this transaction had agreed to give vacant physical possession of the property at the time of registration of the sale deed, showing that this property was lying vacant (see clause 13 of the agreement of sale, which forms part of the statement of case). This again is a feature which renders. futile a comparison of this property ..... X X X X Extracts X X X X X X X X Extracts X X X X
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