Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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.
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