https://www.taxtmi.com/caselaws?id=296323 Transfer of more than 51% shareholding was treated as a non-formal transfer because the lease deed barred assignment or transfer of the lessee's interest without prior written consent and allowed the authority to impose conditions, including premium. A change in shareholding beyond the family sphere was not regarded as a mere formal change. The challenge to the authority's power under the Maharashtra Industrial Development Act was rejected because the statutory and lease framework permitted regulation of lease terms and transfer, supported by Supreme Court authority on change of control through share transfer. Differential charges were therefore upheld as payable. en-us Mon, 06 Jul 2015 00:00:00 +0530 Thu, 15 Jul 2021 08:00:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296323 Transfer of more than 51% shareholding was treated as a non-formal transfer because the lease deed barred assignment or transfer of the lessee's interest without prior written consent and allowed the authority to impose conditions, including premium. A change in shareholding beyond the family sphere was not regarded as a mere formal change. The challenge to the authority's power under the Maharashtra Industrial Development Act was rejected because the statutory and lease framework permitted regulation of lease terms and transfer, supported by Supreme Court authority on change of control through share transfer. Differential charges were therefore upheld as payable. Case-Laws Indian Laws Mon, 06 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296323