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...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
The High Court examined the constitutional validity of exclusion (iii) to the Explanation to Section 17 of the CGST Act regarding the applicability to service providers. The authorities analyzed the matter from the perspective of definitions of 'plant' and machinery, relying on dictionaries, but did not focus on the functionality test. The Supreme Court held that a fact-finding inquiry is necessary in each case, applying the functionality test. As the Petitioner had yet to establish the requisite infrastructure when the Advance Ruling Authorities decided, the High Court remanded the matter to the AAR for a fresh ruling considering the Supreme Court's observations, given the limited scope of judicial review on factual matters unless perversity is demonstrated. The AAR and Appellate Authority's orders were set aside.
The High Court examined the constitutional validity of exclusion (iii) to the Explanation to Section 17 of the CGST Act regarding the applicability to service providers. The authorities analyzed the matter from the perspective of definitions of 'plant' and machinery, relying on dictionaries, but did not focus on the functionality test. The Supreme Court held that a fact-finding inquiry is necessary in each case, applying the functionality test. As the Petitioner had yet to establish the requisite infrastructure when the Advance Ruling Authorities decided, the High Court remanded the matter to the AAR for a fresh ruling considering the Supreme Court's observations, given the limited scope of judicial review on factual matters unless perversity is demonstrated. The AAR and Appellate Authority's orders were set aside.
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