Denial of Section 10B Exemption: 66.66% of New Undertaking's Assets Leased, Constituting 'Transfer' and Disqualifying Benefit.

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....Benefit of exemption u/s 10B - new undertaking - 66.66% assets leased from other company - lease could also be considered as a 'transfer' for the purpose of Section 10B(2) - exemption denied....