No Transfer under section 2(47) when the plant and machinery along with land and building is leased out for a limited period of 10 years
whether leasehold rights constitute a “capital asset” u/s. 2(14), whether there is a “transfer” u/s. 2(47) of such rights and whether “capital gains” u/s. 45 ? The High Court observed that it is unable to agree with the above approach of the ITAT to interpreting what appear to be plain and unambiguous provisions of the Act.… Read More »