Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
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Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
HC determined GST is not applicable on assignment of leasehold rights in immovable property. Following precedent from Gujarat Chamber of Commerce case, the court held that transfer of leasehold rights constitutes assignment of benefits arising from immovable property when a lessee transfers rights to third-party assignee. The impugned show cause notice demanding GST on such transfer was quashed, as assignment of leasehold rights falls outside GST purview. The court recognized this as settled law (res integra) based on established jurisprudence. Original lessee's transfer to assignee who becomes new lessee does not attract GST liability under GST Act, 2017.
HC determined GST is not applicable on assignment of leasehold rights in immovable property. Following precedent from Gujarat Chamber of Commerce case, the court held that transfer of leasehold rights constitutes assignment of benefits arising from immovable property when a lessee transfers rights to third-party assignee. The impugned show cause notice demanding GST on such transfer was quashed, as assignment of leasehold rights falls outside GST purview. The court recognized this as settled law (res integra) based on established jurisprudence. Original lessee's transfer to assignee who becomes new lessee does not attract GST liability under GST Act, 2017.
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