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2018 (10) TMI 647 - AT - Service TaxValuation - inclusion of Notional Interest earned on the interest free deposits in the assessable value - Renting of Immovable Property Services - Held that:- Tribunal in the case of Murli Realtors Pvt. Ltd. [2014 (9) TMI 461 - CESTAT MUMBAI] has held that in the absence of evidence showing that security deposits did not influence the rent and in the absence of any provision of law allowing addition of such notional interest in the assessable value it was held that the notional interest cannot be treated as assessable value. There is a clear finding by this Tribunal that there is no proviso of law to decide the rate of interest that should be taken into consideration and also there is no provision of law to add notional interest on the interest free security deposit to the rent received by the service provider for the purpose of levy of service tax. Appeal allowed - decided in favor of appellant.
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