Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
The HC held that, pursuant to Notification No.04/2018 fixing time of supply under a JDA as the date of conveyance or allotment, no GST liability arose on the petitioner at the date of the JDA; subsequent evidence, including the sale deed showing the developer's acquisition of title and favourable findings by the DGGI, confirm the petitioner is not taxable in respect of the Project. Consequently the Rs. 7 crore deposited by the petitioner is refundable, with interest at 6% per annum from the date of deposit. The refund is to be remitted within six weeks. The Revenue's contrary affidavits were rejected insofar as they sought to fix tax liability on the petitioner.
The HC held that, pursuant to Notification No.04/2018 fixing time of supply under a JDA as the date of conveyance or allotment, no GST liability arose on the petitioner at the date of the JDA; subsequent evidence, including the sale deed showing the developer's acquisition of title and favourable findings by the DGGI, confirm the petitioner is not taxable in respect of the Project. Consequently the Rs. 7 crore deposited by the petitioner is refundable, with interest at 6% per annum from the date of deposit. The refund is to be remitted within six weeks. The Revenue's contrary affidavits were rejected insofar as they sought to fix tax liability on the petitioner.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
