Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Assignment of a lessee's entire long-term leasehold rights in a GIDC plot, including rights in land and building, constitutes a transfer of benefits arising from immovable property rather than a supply of services under GST law. Unlike GIDC's original grant of a long-term lease, assignment to a third-party assignee transfers the lessee's complete right and interest. Applying the Supreme Court order in Gujarat Chamber of Commerce, Industries & Ors., the High Court treated the assignment as outside GST and quashed the show cause notice that had proposed to tax it as a service.
Assignment of a lessee's entire long-term leasehold rights in a GIDC plot, including rights in land and building, constitutes a transfer of benefits arising from immovable property rather than a supply of services under GST law. Unlike GIDC's original grant of a long-term lease, assignment to a third-party assignee transfers the lessee's complete right and interest. Applying the Supreme Court order in Gujarat Chamber of Commerce, Industries & Ors., the High Court treated the assignment as outside GST and quashed the show cause notice that had proposed to tax it as a service.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
