The Bombay High Court held that assignment of leasehold rights in immovable property is a transfer of benefits arising from immovable property and not a supply of services under GST. The ruling clarifies that such transactions fall outside Section 7 read with Schedule II of the GST Act.
The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ruled that brand promotion does not create an enduring capital asset or goodwill.
The article explains how the Andhra Pradesh High Court ruled that transfer of an entire business undertaking as a going concern does not constitute ordinary taxable supply under Section 7 of the CGST Act.
The article explains how procedural lapses in trust registration renewal can activate Section 115TD and impose heavy tax on accreted income. Even inadvertent non-compliance may create severe financial consequences.
The article explains how Section 45(5A) shifted the capital gains trigger for landowners from JDA execution to issuance of the completion certificate. It also examines the impact of RERA-regulated project timelines.
The article explains the taxation framework for cryptocurrencies, NFTs, and other VDAs under Sections 115BBH and 194S. It highlights the harsh restrictions on deductions and loss set-off.
The Allahabad High Court held that ITC cannot be blocked merely on suspicion or another officer’s recommendation under Rule 86A. The ruling stresses independent application of mind and proper reasoning before freezing GST credit.
The Karnataka High Court ruled that consolidated show cause notices under Sections 73 and 74 can cover multiple financial years. However, limitation for each financial year must still be examined separately.
The Gujarat High Court held that supplier tax payment remains mandatory for ITC claims under Section 16(2)(c). However, ITC cannot be denied automatically if the purchaser acted genuinely and without knowledge of tax evasion.
The article explains why GST on sale of developed plots may not be sustainable under Schedule III of the GST law. It also discusses departmental audit objections and judicial support favoring non-taxability of developed land transactions.
