Genuineness of investment evidence determines LTCG entitlement; non specific regulatory reports cannot displace transaction specific documentary proof...
Import entitlement for repairs and after sales service extends to authorised service agents; provisional release allowed subject to bond and quantitat...
Transfer of unexpired leasehold rights was treated as a taxable supply of service because only the right to use immovable property for the balance lease period was assigned, not title in the land, so the transaction did not fall within sale of land under Schedule III. The Authority also held that decisions cited by the appellant had not attained finality, while Safari Retreats was inapplicable because it concerned input tax credit on construction for leasing, not the taxability of leasehold assignments. Separately, recovery of land development cost was held taxable as consideration for construction and development services, since the underlying works were distinct, identifiable services enhancing the premises. The appeal was dismissed and the advance ruling upheld.
Transfer of unexpired leasehold rights was treated as a taxable supply of service because only the right to use immovable property for the balance lease period was assigned, not title in the land, so the transaction did not fall within sale of land under Schedule III. The Authority also held that decisions cited by the appellant had not attained finality, while Safari Retreats was inapplicable because it concerned input tax credit on construction for leasing, not the taxability of leasehold assignments. Separately, recovery of land development cost was held taxable as consideration for construction and development services, since the underlying works were distinct, identifiable services enhancing the premises. The appeal was dismissed and the advance ruling upheld.
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