Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
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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