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2015 (5) TMI 343 - AT - Service TaxWaiver of pre deposit - Renting of Immovable Property - Held that:- There is no dispute regarding liability to service tax on the monthly rental income received except on the issue of admissibility of "SSI" benefit with regard thereto. However, if the income received from 30 year-lease of property is considered to be taxable, the question of eligibility for the SSI benefit would not arise. We find that the appellants did not own the piece of land on which the commercial building was constructed in-as-much-as it was only leased to them for 30 years by Municipal Corporation, Raipur and therefore the commercial building which they constructed thereon could not have been sold by them because they cannot sell what they do not own. - having regard to the appellants' plea that the advances received had been subsequently adjusted in the rental/lease income shown on which service tax has been demanded and that they should be extended the cum-tax benefit, we order pre-deposit of ₹ 75 lakhs within 8 weeks - Partial stay granted.
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