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2019 (2) TMI 680 - CESTAT CHENNAIValuation - renting of immovable property - case of appellant is that the authorities have not taken into consideration the property tax paid by the appellant while arriving at the total taxable value - Held that:- Indeed, if taxes are paid by the appellant, the same has to be considered while arriving at the total taxable value - They have raised contention about the advance deposit received from tenants. The appellant has submitted that they are willing to produce necessary documents - it is proper to remand the matter to the adjudicating authority for requantifying the tax liability after giving the appellant the benefit of the property tax paid by them as well as the rent received in advance from tenants if any - matter on remand. Penalty - Held that:- Undisputedly, during the relevant period, the issue whether Renting of Immovable Property Service is subject to levy of service tax was highly contentious. There were litigations pending before various High Courts - Being an interpretational issue, it can be said that the appellant has put forward reasonable cause for invoking section 80 of the Finance Act - penalty set aside. Appeal allowed in part and part matter on remand.
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