Taxman 579 where surrender of lease was held to be transfer.
Similarly Hon'ble Allahabad High Court held in case of Anand Bala
Bhushan ... assessee as a
leaseholder was given compensation. The assessee prematurely
surrendered the lease. This was a clear case of capital gains and
the transaction squarely
Company reads as under :-
To acquire by purchase and sell through lease, exchange, hire or otherwise lands and properties of any tenure or interest therein ... members."
"To sublet, exchange, mortgage, rent, lease, such lease, surrender, accept surrender, accept lease tenancy or sub-tenancy buildings, tenements, flats, blocks, shops
factor contributing to revision of lease
money could be the normal appreciation in the lease rental, in line
with the lease rent prevailing in the market ... amount of escalation n Rent escalation on attributable amount of
paid surrendering lease rent fixed tease attributable (A) @ 9.5% to revenue rent
(A) the right
reduced on account of surrender of area
by the tenant. A copy of surrender lease agreement was filed.
4.1 The explanation of the assessee ... surrender by
saying that copy of a surrender letter cannot be treated as evidence and that
it does not prove that surrender of leased area
vide lease deed dated 01.04.1989, the
monthly lease rent was increased to Rs.1 lac and after
18.01.1992 again, the lease rent were enhanced ... direct the Assessing
Officer to treat part of the lease rent fee for surrendering the right to
purchase @15% of average purchases of khair wood
lease rentals per month. The assessee
treated entire lease rental per month as revenue expenditure
whereas the Revenue treated part of the enhanced lease rental ... enhanced,
in fixed lease rent improvement and lease rent to be
Enhanced Lease Part of enhanced @5% basic lease modernization of taken as revenue
ascertained from the cumulative effect of all the terms of the lease and other material circumstances.
After enunciating the said principles, Their Lordships held ... decided to lease out the mill. It was leased out for five years. Before the expiry of the lease, the lessee surrendered the lease
company on the conclusion of tenancy
period and surrendering of the leased premises by the
company to the landlords. Therefore, these security
deposits were ... company on the
conclusion of tenancy period and surrendering of the leased
premises by the company to the landlords. Therefore, these
security deposits were
into existence any asset of a permanent nature because
on the surrender of lease, the option of the lessor of the premises in which ... existence
an asset of a permanent nature because on the surrender of the lease,
the option of the lessor of the premises in which
into existence any asset of a permanent nature because
on the surrender of lease, the option of the lessor of the premises in which ... existence
an asset of a permanent nature because on the surrender of the lease,
the option of the lessor of the premises in which
