AAR : Rules on taxability of leasing of Govt. owned land by CIDCO to Municipal Corp. for development purpose

Maharashtra AAR holds that ‘transfer by way of lease’ of vacant plots of ‘Maharashtra State Govt. owned lands’ or ‘privately owned lands acquired under the Land Acquisition Act, 1894 by the Maharashtra State Govt.’, to Navi Mumbai Municipal Corporation (NMMC) for intended development thereof and construction of buildings demarcated for separate use as ‘Indoor Recreation Centre’ and ‘Slaughter House’ shall be exempt from tax; Considers the ‘Indoor Recreat...