https://www.taxtmi.com/caselaws?id=194070 Surplus lands appurtenant to a textile mill were held to fall within "assets in relation to the textile undertaking" under the Textile Undertakings (Taking Over of Management) Act, 1983. The Court applied a purposive construction, reading the phrase in the context of the Act's object of preserving and rehabilitating sick textile undertakings in public interest. Because the lands had historically formed part of the mill estate, were never truly severed by title or capital structure, and were used to support the business through mortgage, development, and sale for finance, they were treated as capital assets of the undertaking rather than a separate real estate business. The surplus lands vested in the Central Government. en-us Fri, 04 Apr 1986 00:00:00 +0530 Mon, 28 Aug 2017 16:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194070 Surplus lands appurtenant to a textile mill were held to fall within "assets in relation to the textile undertaking" under the Textile Undertakings (Taking Over of Management) Act, 1983. The Court applied a purposive construction, reading the phrase in the context of the Act's object of preserving and rehabilitating sick textile undertakings in public interest. Because the lands had historically formed part of the mill estate, were never truly severed by title or capital structure, and were used to support the business through mortgage, development, and sale for finance, they were treated as capital assets of the undertaking rather than a separate real estate business. The surplus lands vested in the Central Government. Case-Laws Indian Laws Fri, 04 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194070