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2013 (7) TMI 669 - AT - Service TaxRenting of immovable property - taxability of notional interest on interest free security deposit – Held that:- There was no evidence available on record led by the revenue to show that the notional interest on the interest free security deposit has influenced the consideration received for renting and it is only a presumption on the part of the revenue - the appellant had followed the practice of taking security deposit for the premises rented out on lease basis was common throughout the country and the amount of security deposit taken also varies from place to place and also depends on the property whether it was for commercial or residential purpose – court followed the judgement of CCE, Mumbai-III vs. ISPL Industries Ltd. (2003 (4) TMI 99 - SUPREME COURT OF INDIA 2003). - appellant had made out a case in their favour for grant of stay – stay granted.
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