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2018 (6) TMI 197 - CESTAT CHANDIGARHInterest or service charge - Interest received for loan given to Subsidiary company for short period - Chargeability to service tax - Banking and Other Financial Service or not - whether the amount shown by the appellant in their balance sheet as interest is actually interest or service charges? - Held that:- There is no iota of evidence to discard the amount shown by the appellant is not an interest, merely saying that the amount received by the appellant is service charges for providing deposit to their subsidiary companies is without any evidence and the same cannot be accepted. The amount received by the appellant is interest cannot be said as charges of service provided by them - interest received by the appellant is not chargeable to service tax - appeal allowed - decided in favor of appellant.
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