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Case Law Details

Case Name : Seshasayee Steels P. Ltd. Vs ACIT (Supreme Court)
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Seshasayee Steels P. Ltd. Vs ACIT (Supreme Court)

SC held that, under the sale agreement, the Taxpayer had granted mere license to Vijay Shanthi Builders Ltd. which cannot be equated with possession of property which necessarily requires control over the property and not mere occupation and, hence, provisions of Transfer of Property Act, 1882 were not attracted.

On a reading of the agreement to sell dated 15.05.1998, what is clear is that both the parties are entitled to s

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