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Lessee Cannot Be Allowed To Accept Beneficial Terms & Conditions Of Lease While Avoiding Terms Which Are Against His Interests: J&K High Court

Ruling against the selective acceptance of lease conditions by lessees the Jammu and Kashmir and Ladakh High Court has ruled that a lessee cannot selectively accept only the favourable terms and conditions of a lease while rejecting the unfavorable ones. In dismissing an appeal challenging a decision by a Single Judge regarding the payment of premium for the transfer of …

Lease

Finolex Industries sells leasehold rights of 25 acres of land in Pune for ₹470 crore

Finolex Industries has sold its leasehold rights of 25 acres for ₹470 crore to Terra Vista Developer in Pimpri, Waghere, Pune, documents accessed by CRE Matrix showed. Finolex Industries has sold its leasehold rights of 25 acres for more than ₹ 470 crore to Terra Vista Developer in Pimpri, Waghere, Pune, property documents showed. In 2022, Microsoft Corporation had acquired …

Bombay High Court Set Aside Reassessment Proceedings Alleging Escapement Of Income On Transfer Of Leasehold Rights

The Bombay High Court has quashed the reassessment proceedings alleging escapement of income on transfer of leasehold rights.The bench of Justice K.R. The Bombay High Court has quashed the reassessment proceedings alleging escapement of income on transfer of leasehold rights. The petitioner filed its return of income for the Assessment Year 2018-19 on October 30, 2018, showing Rs. 43 crore …

Gujarat High Court Stays Proceedings Concerning GST Imposition On Transfer Of Leasehold Rights Of GIDC Land

The Gujarat High Court stayed the proceedings in respect of the issue related to the imposition of GST on the transfer of leasehold rights to Gujarat Industrial Development Corporation land and issued the notice to the department.The bench of Justice Biren Vaishnav and Justice Mauna M. Bhatt passed this order while presiding over a petition in respect of several notices …

Leasehold Rights

Lease Rent Paid For Acquiring Mining Rights Is Capital In Nature, Income Tax Deduction Not Allowable: ITAT

The Pune Bench of the Income Tax Appellate Tribunal has observed that lease rent paid for acquiring mining rights is capital in nature and income tax deductions cannot be allowed.The two-member bench of Partha Sarthi Choudhary and Inturi Rama Rao disallowed the amount of Rs. The Pune Bench of the Income Tax Appellate Tribunal has observed that lease rent paid …

Lease Rent

MSME Industry Body Seeks Review Of GST Levy On Land Lease Transactions

Chamber of Small Industries Association has urged the government to revisit the issue of GST on leased land affecting MSMEs across the country. In an official release here on Thursday, COSIA president Sandeep Parekh said that the GST department has put the industry in a state of fear by sending summons and has started an investigation into how many transfers …

Lease Transactions

Leasehold scandal: Five major developers abolish ground rents on new flats