Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
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 
