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2015 (12) TMI 1540 - AT - Service TaxValuation - works contract service - non-monetary consideration - services provided to landlords for construction services under joint development agreement - waiver of pre-deposit - Held that:- appellant is not the owner of the land on which the construction of apartments was executed by them. The owner(s) of the land were assigned 30 apartments and remaining were disposed off to other individuals under two categories of agreements, outright sale on the one hand and contract for construction of apartments on the other. Prima facie, it would appear that development of the property had been effected by construction of the 42 apartments, which were not handed over to the landowners as the consideration. It would, therefore, appear that the service had been rendered to the land owners for which consideration was not monetary but in the form of apartments for disposal - prima facie case is against the assessee. - stay granted partly.
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