In Brief
The Supreme Court upheld the High Court's decision that land held by North Delhi Power Limited (now Tata Power Delhi Distribution Limited) is owned by Delhi Power Company Limited (the Holding Company), not the Government, and hence is not exempt from property tax under Section 119 of the Delhi Municipal Corporation Act. The Court held that the Government's initial vesting of assets was transitory; Schedule G of the Transfer Scheme Rules transferred land to the Holding Company. The incidence of tax falls on any person having the right to let unlet land under Section 120(1)(c), regardless of whether they hold the land as a licensee, requiring the Assessing Authority to determine final tax liability after considering all relevant licences and statutory provisions.
The lawyer headnote and full judgment text are available to registered users.