- The Bombay High Court granted interim protection to Nipro India Corporation against coercive GST recovery over taxability of leasehold-rights assignment under a 95-year lease.
- The Court barred measures like bank account attachment pending further hearing, finding the company raised an arguable legal case.
- Nipro relied on prior Bombay HC rulings, including Aerocom Cushions and Estate Investment Company, which suggest leasehold-rights transfers may not attract GST.
- The issue is still not fully settled, with courts in other cases, including PAN Electronics India, continuing to examine GST liability on such assignments.
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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