https://www.taxtmi.com/caselaws?id=271832 Where a corporate structure is used to disguise a transfer of mining rights for consideration, the arrangement may be treated as an unauthorized transfer in breach of mandatory prior-consent requirements. The Court applied the doctrine of lifting the corporate veil because the lease was first moved to a newly formed company and the entire shareholding was then sold to another entity, showing substance over form and suppression of the true nature of the transaction. On that basis, the composite deal was held to be a private sale of mining rights, void for breach of the mining rules, and the State's cancellation of the transfer permission and lease was upheld. en-us Wed, 20 Jan 2016 00:00:00 +0530 Mon, 07 Jan 2019 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271832 Where a corporate structure is used to disguise a transfer of mining rights for consideration, the arrangement may be treated as an unauthorized transfer in breach of mandatory prior-consent requirements. The Court applied the doctrine of lifting the corporate veil because the lease was first moved to a newly formed company and the entire shareholding was then sold to another entity, showing substance over form and suppression of the true nature of the transaction. On that basis, the composite deal was held to be a private sale of mining rights, void for breach of the mining rules, and the State's cancellation of the transfer permission and lease was upheld. Case-Laws Indian Laws Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271832