Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
HC ruled that transfer of leasehold rights for industrial land is not subject to GST taxation. The court found that assignment/sale of leasehold rights constitutes transfer of immovable property benefits, which falls outside GST applicability under Section 7(1)(a) of GST Act, read with Schedule II and Schedule III. Relying on precedent in Gujarat Chamber of Commerce case, the court quashed the respondent's order, effectively exempting the transaction from GST levy. Petition was allowed, establishing that such leasehold rights transfer does not trigger GST obligations.
HC ruled that transfer of leasehold rights for industrial land is not subject to GST taxation. The court found that assignment/sale of leasehold rights constitutes transfer of immovable property benefits, which falls outside GST applicability under Section 7(1)(a) of GST Act, read with Schedule II and Schedule III. Relying on precedent in Gujarat Chamber of Commerce case, the court quashed the respondent's order, effectively exempting the transaction from GST levy. Petition was allowed, establishing that such leasehold rights transfer does not trigger GST obligations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
