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 ...
GST could not be levied again on a shipping line's ocean freight services for CIF imports where the freight component had already suffered customs duty in the import transaction, because the transportation service formed part of a composite supply. The Court held that taxing the same service element separately in the hands of the petitioner would amount to double taxation and would be inconsistent with the GST scheme. Relying on Union of India v. Mohit Minerals Pvt. Ltd., it found that transportation and insurance in a CIF contract are naturally bundled with the supply of goods. The show-cause notice and adjudication order were quashed, and refund with interest was directed.
GST could not be levied again on a shipping line's ocean freight services for CIF imports where the freight component had already suffered customs duty in the import transaction, because the transportation service formed part of a composite supply. The Court held that taxing the same service element separately in the hands of the petitioner would amount to double taxation and would be inconsistent with the GST scheme. Relying on Union of India v. Mohit Minerals Pvt. Ltd., it found that transportation and insurance in a CIF contract are naturally bundled with the supply of goods. The show-cause notice and adjudication order were quashed, and refund with interest was directed.
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