their lease or their lease
license has been cancelled.
22. In the absence of Private Party whose lease has been cancelled or
surrendered there ... mining
lease issued under the Mines and Minerals (Development and
Regulation) Act, 1957 , where the mining lease has been cancelled or
surrendered for the remaining
justified in treating the full value of consideration on
surrender of lease rights at Rs.1,25,00,000/- instead ... assessee has come before this Tribunal
contending that the assessee surrendered lease right at Rs.1,20,000/- and the same is
clear and established
lese for 2 Mbps circuits and that, in the event of surrendering the leased circuits before this minimum period, the lessee was liable ... realize the rental for the unexpired lease period of the surrendered leased circuits pending disposal of the original petition. Thereafter, the Kerala High Court, vide
lease right. The assessee company was having lease right in the agricultural land. The same was transferred. This is clearly transfer of capital asset.(Lease ... with lease rent of Rs. 6000/- to be paid annually in advance vide lease deed dated 14.11.1984. It is stated in the said lease deed
Unit-III, Delhi stated as under :-
"We are willing to surrender lease payment charged to
profit or loss account as detailed below ... able to identify the computers. He also surrendered lease
rent charged in the P&L Account. The assessments for assessment
years
along with other co-lessee of the premises negotiated for
transfer/surrender of lease rights with the new owners of the said
premises and finalized ... tenants
surrendered in favour of the owners herein".
There is nothing in the clause which suggests that on 12.8.2004 the
surrender of lease
this letter it is extracted below in full.
"Sub:- Surrender of Leased line - reg.
Please refer to your letter dated 25.11.03, wherein this office ... leased lines was well founded and it was for good reasons. It may
be noted that the leased lines in question were not being surrendered
page 9 under the heading "Surrender" the following is what is stated ;
"Surrender of a lease is not a transfer within ... Patna 140).
35. The word "surrender" is defined and the word "surrender by operation of law" is also defined in Black
land in question to assessees does not conform to meaning of lease provided by the T.P. Act .
17. Bench drew attention of the learned ... explain that since the assessees derived new rights by way of surrendering old rights and there were provisions in the land Regulation Act mentioned above
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
