Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Page of 4809
Press 'Enter' after typing page number.
2021 to 2040 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The HC ruled that assignment of leasehold rights in immovable property allotted by a government industrial development corporation does not constitute taxable supply under GST. Following precedent established in Gujarat Chamber of Commerce and subsequent decisions including Alfa Tools Pvt. Ltd., BVM Pharma, and Time Technoplast Limited, the court held that such assignments are exempt from GST liability. Additionally, transfer from partnership to sole proprietorship was deemed internal reorganization exempt from GST. The court quashed impugned orders demanding GST, interest, and penalty, allowing the petition and setting aside the contested orders.
The HC ruled that assignment of leasehold rights in immovable property allotted by a government industrial development corporation does not constitute taxable supply under GST. Following precedent established in Gujarat Chamber of Commerce and subsequent decisions including Alfa Tools Pvt. Ltd., BVM Pharma, and Time Technoplast Limited, the court held that such assignments are exempt from GST liability. Additionally, transfer from partnership to sole proprietorship was deemed internal reorganization exempt from GST. The court quashed impugned orders demanding GST, interest, and penalty, allowing the petition and setting aside the contested orders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
