Case Law Details
CIT Vs M/s Mono flex India Pvt. Ltd. (Delhi High Court)- Whether when the property, which was auctioned by the TRO for recovery of tax, is a leased property to the defaulter under a perpetual lease agreement, the right in the said property can only be transferred after payment of the unearned increase payable to the lessor of the property as was payable under the lease agreement
Whether the purchaser will not be liable to pay the unearned increase amount as in the auction, no such payment condition was imposed before the purchaser and the clear title was the responsibility of the lessee defaulter.- Assessee’s appeal allowed .
The Commissioner Of Income Tax, Delhi- IX Vs Mono flex India P. Ltd. & Others
Decided on- 16 August, 2011
Decided by- Delhi High Court
Please become a Premium member. If you are already a Premium member, login here to access the full content.