Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
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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.
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