Proceeds of crime and money laundering: PMLA prosecution requires subsisting predicate offence; discharge of predicate accused precludes further prose...
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A proposed contribution of developed leasehold land, constructed hotel floors and related infrastructure to an LLP was treated as a taxable supply of service under the CGST Act. The arrangement was regarded as a transaction between distinct taxable persons, with consideration in non-monetary form because the contributor would receive partnership interest, profit-sharing rights and related commercial benefits. The transfer of leasehold and occupancy rights for hotel business was viewed as supply of service in the course or furtherance of business, not as a mere capital contribution or sale of immovable property outside GST. As the transaction did not fall within Schedule III, GST was held leviable on the proposed arrangement.
A proposed contribution of developed leasehold land, constructed hotel floors and related infrastructure to an LLP was treated as a taxable supply of service under the CGST Act. The arrangement was regarded as a transaction between distinct taxable persons, with consideration in non-monetary form because the contributor would receive partnership interest, profit-sharing rights and related commercial benefits. The transfer of leasehold and occupancy rights for hotel business was viewed as supply of service in the course or furtherance of business, not as a mere capital contribution or sale of immovable property outside GST. As the transaction did not fall within Schedule III, GST was held leviable on the proposed arrangement.
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