Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Levy of GST - activity of holding equity capital by the parent Company in the Petitioner - ultravires Section 5 of the IGST Act, 2017 read with Section 7 of the CGST Act, 2017 or not - The High Court concluded that mere holding of shares by a holding company in its subsidiary cannot be classified as a supply of service, as clarified by circulars issued by both the Central and State Governments. The court held that such activity does not fall within the purview of GST. - Given the similarity of the present case to the referenced judgment, the High Court held that the impugned Show Cause Notices were without jurisdiction or authority of law. Consequently, the court quashed the notices issued by the respondent.
Levy of GST - activity of holding equity capital by the parent Company in the Petitioner - ultravires Section 5 of the IGST Act, 2017 read with Section 7 of the CGST Act, 2017 or not - The High Court concluded that mere holding of shares by a holding company in its subsidiary cannot be classified as a supply of service, as clarified by circulars issued by both the Central and State Governments. The court held that such activity does not fall within the purview of GST. - Given the similarity of the present case to the referenced judgment, the High Court held that the impugned Show Cause Notices were without jurisdiction or authority of law. Consequently, the court quashed the notices issued by the respondent.
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