Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The HC ruled that assignment of leasehold rights in MIDC land along with buildings to a third party for lump sum consideration is not subject to GST. Following Gujarat HC's precedent in Gujarat Chambers of Commerce case, the court determined that such transactions constitute transfer of benefits arising from "immovable property," with the assignee becoming the new lessee in place of the original allottee. The court held that Section 7(1)(a) of the GST Act read with clause 5(b) of Schedule II and clause 5 of Schedule III does not apply to such transactions, exempting them from GST under Section 9. The HC stayed adjudication of the Show Cause Notice dated November 13, 2024.
The HC ruled that assignment of leasehold rights in MIDC land along with buildings to a third party for lump sum consideration is not subject to GST. Following Gujarat HC's precedent in Gujarat Chambers of Commerce case, the court determined that such transactions constitute transfer of benefits arising from "immovable property," with the assignee becoming the new lessee in place of the original allottee. The court held that Section 7(1)(a) of the GST Act read with clause 5(b) of Schedule II and clause 5 of Schedule III does not apply to such transactions, exempting them from GST under Section 9. The HC stayed adjudication of the Show Cause Notice dated November 13, 2024.
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