SC dismissed Revenue's SLP; Affirms No GST On Assignment of Leasehold Rights in Industrial Land
Court :
Supreme Court of India
Brief :
The Hon'ble Supreme Court in the case of Assistant Commissioner (Anti Evasion) &Anr. v. Aerocom Cushions Private Limited [Special Leave Petition (Civil) Diary No. 26041 of 2026 dated May 22, 2026] dismissed the Special Leave Petition ( "SLP" ) filed by the Revenue against the judgment of the Hon'ble Bombay High Court and held that the assignment of leasehold rights in industrial land by the original lessee in favour of a third-party assignee, with prior consent of the Maharashtra Industrial Development Corporation ( "MIDC" ), constitutes a transfer of immovable property and does not amount to a 'supply of service' under Section 7 of the Central Goods and Services Tax Act, 2017 ( "the CGST Act" ). The Hon'ble Supreme Court concurred with the view of the Hon'ble Bombay High Court that the transaction of transfer of benefits arising out of an immovable property has no nexus whatsoever with the business of the assessee and therefore, the essential element of supply of service in the course of business or in furtherance of business is completely absent.
Citation :
Special Leave Petition (Civil) Diary No. 26041 of 2026 dated May 22, 2026
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Judgement posted by
Bimal Jain
Service
FCA, FCS LLB with21 Yrs of Experience inTaxation Indirect and Direct: Education Qualification: B.Com (Hons) Chartered Accountants Company Secretary LLB Qualified SAP FI/CO Consultants Professional Membership: Chairmanof Indirect Tax Committee of PHD Chamber of Commerce Member of Indirec ... Read more
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