Mere occupancy right under leave & licence agreement not sufficient to attract Explanation 1 of section 32(1)

ORDER

Per R. V. Easwar

Senior Vice President: This is an appeal by the assessee relating to assessment year 2004- 05 and it is directed against the order passed by the CIT under section 263 of the Act on 18.09.2008.

2. The brief facts giving rise to the appeal may be noted. The assessee is a public limited company engaged in the sales and service of automobiles. It filed a return of income declaring a loss of Rs. 4,33,62,100/-. It was accom

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