The Delhi Bench of Income Tax Appellate Tribunal has held that deeming provisions of Section 50C of the Income Tax Act cannot be applied for leasehold rights.The bench of Kul Bharat and Avdhesh Kumar Mishra has observed that only if a capital asset, be it land, a building, or both, is transferred and the consideration received or accruing as a. …
The Madras High Court has set aside notices for the closure of two Mills in Puducherry, whose history dates back to the French Colonial period, on the ground that provisions of the Industrial Disputes Act, 1947 were not complied with in its true spirit.Justice S. Vaidyanathan noted that the Mills were closed without issuing any notice of enquiry under Section …
