https://www.taxtmi.com/highlights?id=104849 Assignment of GIDC leasehold rights is treated as a transfer of benefits arising from immovable property and therefore falls outside the GST levy under the binding High Court ruling. On that basis, restoration or enhancement of penalties for alleged non-payment of GST did not arise, while the unchallenged confirmation of tax, interest and penalty under Section 73 remained undisturbed. Delayed invoicing and tax payment did not, by themselves, establish suppression with intent to evade tax. A bona fide and reasonable belief that the assignment was non-taxable, later supported by High Court rulings, independently precluded invocation of Section 74 and consequential penalties. The Department's appeal for restoration of penalties was dismissed. en-us Mon, 12 Oct 2026 04:18:33 +0530 Mon, 12 Oct 2026 04:18:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104849 Assignment of GIDC leasehold rights is treated as a transfer of benefits arising from immovable property and therefore falls outside the GST levy under the binding High Court ruling. On that basis, restoration or enhancement of penalties for alleged non-payment of GST did not arise, while the unchallenged confirmation of tax, interest and penalty under Section 73 remained undisturbed. Delayed invoicing and tax payment did not, by themselves, establish suppression with intent to evade tax. A bona fide and reasonable belief that the assignment was non-taxable, later supported by High Court rulings, independently precluded invocation of Section 74 and consequential penalties. The Department's appeal for restoration of penalties was dismissed. Highlights GST Mon, 12 Oct 2026 04:18:33 +0530 https://www.taxtmi.com/highlights?id=104849