Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Benefit of Exemption from CST - stock transfer or inter-state sale - The petitioner argued for the exemption of tax under Section 6A of the CST Act, contending that the movement constituted stock transfer. However, the respondent argued that the goods were tailor-made for specific customers, invoiced directly to them, and thus constituted inter-state sales taxable under Section 3(a) of the CST Act. The High Court upheld the respondent's argument, emphasizing the tailor-made nature of the goods and the direct invoicing to customers. Additionally, the court dismissed the petitioner's argument regarding the prospective applicability of Section 6A(3), affirming the jurisdiction and authority for revision under Section 9(2) of the CST Act.
Benefit of Exemption from CST - stock transfer or inter-state sale - The petitioner argued for the exemption of tax under Section 6A of the CST Act, contending that the movement constituted stock transfer. However, the respondent argued that the goods were tailor-made for specific customers, invoiced directly to them, and thus constituted inter-state sales taxable under Section 3(a) of the CST Act. The High Court upheld the respondent's argument, emphasizing the tailor-made nature of the goods and the direct invoicing to customers. Additionally, the court dismissed the petitioner's argument regarding the prospective applicability of Section 6A(3), affirming the jurisdiction and authority for revision under Section 9(2) of the CST Act.
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