Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Page of 4796
Press 'Enter' after typing page number.
361 to 380 of 95918 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 held that GST is not leviable on the assignment of leasehold rights of industrial land and buildings by the lessee to a third party for a lump sum, as such assignment constitutes a transfer of benefits arising from immovable property and falls outside the scope of supply under GST law. Applying the precedent, the court found the petitioner's transfer of leasehold rights to be similar and thus exempt from GST. Consequently, the impugned order and show cause notice issued without jurisdiction were quashed and set aside. The petition was allowed, affirming that the transfer did not attract GST liability.
The HC held that GST is not leviable on the assignment of leasehold rights of industrial land and buildings by the lessee to a third party for a lump sum, as such assignment constitutes a transfer of benefits arising from immovable property and falls outside the scope of supply under GST law. Applying the precedent, the court found the petitioner's transfer of leasehold rights to be similar and thus exempt from GST. Consequently, the impugned order and show cause notice issued without jurisdiction were quashed and set aside. The petition was allowed, affirming that the transfer did not attract GST liability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
