https://www.taxtmi.com/caselaws?id=76661 The court concluded that the conditions in clauses (a), (b), and (c) of Section 94(7) of the Income Tax Act, 1961 must be satisfied cumulatively for the section to apply. The judgment emphasized the importance of fulfilling all requirements collectively, based on legislative intent and precedent. The court dismissed the appeal by the Revenue as it did not raise any substantial question of law, affirming that the units in question were not subject to the consequences outlined in Section 94(7) due to the failure to meet all specified conditions. en-us Wed, 09 Jun 2010 00:00:00 +0530 Wed, 02 Jan 2013 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76661 The court concluded that the conditions in clauses (a), (b), and (c) of Section 94(7) of the Income Tax Act, 1961 must be satisfied cumulatively for the section to apply. The judgment emphasized the importance of fulfilling all requirements collectively, based on legislative intent and precedent. The court dismissed the appeal by the Revenue as it did not raise any substantial question of law, affirming that the units in question were not subject to the consequences outlined in Section 94(7) due to the failure to meet all specified conditions. Case-Laws Income Tax Wed, 09 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76661