https://www.taxtmi.com/caselaws?id=790584 A joint development agreement is composite, but the construction referable to the landowner's share is not a taxable works contract under the Karnataka Value Added Tax Act, 2003 because the works contract element arises only in agreements with flat purchasers. The transfer of undivided share in land in return for built-up area is not a sale under section 2(29) as it is in the nature of barter or exchange, not transfer of property in goods for monetary consideration. Tax cannot be levied on the land component under Entry 54 of List II, and a circular cannot supply the statutory machinery needed to widen the levy. en-us Fri, 17 Apr 2026 00:00:00 +0530 Tue, 28 Apr 2026 07:29:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790584 A joint development agreement is composite, but the construction referable to the landowner's share is not a taxable works contract under the Karnataka Value Added Tax Act, 2003 because the works contract element arises only in agreements with flat purchasers. The transfer of undivided share in land in return for built-up area is not a sale under section 2(29) as it is in the nature of barter or exchange, not transfer of property in goods for monetary consideration. Tax cannot be levied on the land component under Entry 54 of List II, and a circular cannot supply the statutory machinery needed to widen the levy. Case-Laws VAT / Sales Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790584