Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
AAR held that the applicant's activity of supplying fitted assets on hire to occupants of a building constitutes leasing or renting services, as the applicant remains the legal owner and only grants access to utilities without transfer of possession. The installed assets, having become integral to the building, lose their character as movable goods; therefore, the supply is not leasing or renting of goods. The various services provided through machines and systems for a single consolidated per sq. ft. charge do not reveal any naturally bundled elements or principal supply and are therefore characterized as a mixed supply. Consequently, the transaction falls under serial no. 17(viii) of the relevant rate notification and is liable to GST at 18%.
AAR held that the applicant's activity of supplying fitted assets on hire to occupants of a building constitutes leasing or renting services, as the applicant remains the legal owner and only grants access to utilities without transfer of possession. The installed assets, having become integral to the building, lose their character as movable goods; therefore, the supply is not leasing or renting of goods. The various services provided through machines and systems for a single consolidated per sq. ft. charge do not reveal any naturally bundled elements or principal supply and are therefore characterized as a mixed supply. Consequently, the transaction falls under serial no. 17(viii) of the relevant rate notification and is liable to GST at 18%.
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