Transfer pricing comparables selection and working capital adjustment u/r 10B(1)(e)(iii), remanded for recomputation with rejected comparables include...
Company oppression/mismanagement petition amendments and maintainability after alleged share transfer and forgery claims; tribunal order quashed for l...
HC examined the validity of a SCN issued u/s 74 of the State GST Act concerning taxability of assignment of leasehold rights in industrial plots. Relying on its prior rulings, HC held that assignment/sale/transfer of leasehold rights in GIDC-allotted land constitutes transfer of benefits arising from immovable property, which falls outside the ambit of "supply" under s.7(1)(a), read with Sch. II cl.5(b) and Sch. III cl.5. Consequently, such transaction is not exigible to GST u/s 9. The impugned SCN was quashed and the writ petition allowed.
HC examined the validity of a SCN issued u/s 74 of the State GST Act concerning taxability of assignment of leasehold rights in industrial plots. Relying on its prior rulings, HC held that assignment/sale/transfer of leasehold rights in GIDC-allotted land constitutes transfer of benefits arising from immovable property, which falls outside the ambit of "supply" under s.7(1)(a), read with Sch. II cl.5(b) and Sch. III cl.5. Consequently, such transaction is not exigible to GST u/s 9. The impugned SCN was quashed and the writ petition allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
