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2017 (2) TMI 262 - AT - Service TaxRenting of machinery - Computer Colour Display Machines along with software for matching of shades - whether the rent received will be taxable under the category of Banking & Other Financial Services or not? - Held that: - Applying the definition of Banking and other Financial Services and the definition of other taxable service, it is found that the amount received by appellant in the case in hand would not be covered for taxing under Banking and other Financial Services. The Tribunal in the case of Banswara Syntex [2009 (7) TMI 85 - CESTAT, NEW DELHI] while considering a similar issue of whether leasing of land, building as well as machinery would fall under Banking and other Financial Services or otherwise, held that such amount received as lease rent would not be covered under Section 65 (105) of Banking and other Financial Services in the Finance Act, 1994. Service not taxable - appeal allowed - decided in favor of appellant.
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