Leasehold Interest in Land is Asset of Company and Capable of Valuation: J&K and Ladakh HC [Read Order]

The J and K and Ladakh HC rules that leasehold interest in land is asset of company and capable of valuation

By Kalyani B. Nair - On March 6, 2024 3:46 pm - 2 mins read

Leasehold Interest - Interest in Land - Jammu and Kashmir High Court - Asset of Company - TAXSCAN

The Jammu and Kashmir and Ladakh High Court ruled that leasehold interest in land is asset of company and capable of valuation. The Assessing Officer adopted the indexed cost of 7150 shares at Rs.2,33,23,300/-, instead of Rs.14,48,59,000/-. As such, the Assessing Officer was of the view that out of rupees ten crore being the sale…

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