https://www.taxtmi.com/caselaws?id=297358 A scheme of arrangement and demerger transferring the original lessee's assets to its subsidiary attracted the respondent's instructions requiring 50% of the unearned increase to be paid on substitution of lessee for the commercial plot. Clause 1(a) was inapplicable because it covered partnership firms and private limited companies, not a public limited company. Clause 6(a) of the perpetual lease deed also prohibited transfer, assignment or parting with possession without prior consent and treated such transfer as liable to unearned increase. The earlier precedent cited by the petitioners was distinguished on facts and for not addressing the governing instructions, so the demand and consequential notice were upheld as valid. en-us Mon, 16 Apr 2012 00:00:00 +0530 Mon, 27 Jun 2022 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297358 A scheme of arrangement and demerger transferring the original lessee's assets to its subsidiary attracted the respondent's instructions requiring 50% of the unearned increase to be paid on substitution of lessee for the commercial plot. Clause 1(a) was inapplicable because it covered partnership firms and private limited companies, not a public limited company. Clause 6(a) of the perpetual lease deed also prohibited transfer, assignment or parting with possession without prior consent and treated such transfer as liable to unearned increase. The earlier precedent cited by the petitioners was distinguished on facts and for not addressing the governing instructions, so the demand and consequential notice were upheld as valid. Case-Laws Indian Laws Mon, 16 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297358