Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
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HC held that assignment of leasehold rights for industrial land by a lessee to a third party for a lump sum consideration does not constitute a supply under GST provisions. The court determined that Section 7(1)(a) of the GST Act, read with Schedule II, Clause 5(b) and Schedule III, Clause 5, does not attract GST levy for such transactions involving transfer of immovable property rights. Following the precedent set in a prior Gujarat HC decision, the court recognized this as a significant legal issue affecting multiple pending petitions, effectively providing relief to industrial land lessees by exempting such assignments from GST taxation.
HC held that assignment of leasehold rights for industrial land by a lessee to a third party for a lump sum consideration does not constitute a supply under GST provisions. The court determined that Section 7(1)(a) of the GST Act, read with Schedule II, Clause 5(b) and Schedule III, Clause 5, does not attract GST levy for such transactions involving transfer of immovable property rights. Following the precedent set in a prior Gujarat HC decision, the court recognized this as a significant legal issue affecting multiple pending petitions, effectively providing relief to industrial land lessees by exempting such assignments from GST taxation.
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