2021 (12) TMI 483 - SUPREME COURT - Service Tax

Head Note / Extract:
Levy of Service tax alongwith interest and penalty - interchange fee - notices covered periods prior to 01.07.2012 and also thereafter - double taxation - evidence to show that the acquiring bank had paid tax on the amount which was earned as interchange fee by the Respondent or not - case of interchange fee being interest and a ‘transaction in money’ was rejected - inter se provision of service between the parties or not - deliberate intention on the part of the assessee to not disclose correct information or not - time limitation. Split Judgement: Justice K.M. JOSEPH allowed the revenue appeal based on detailed discussion. Justice S. RAVINDRA BHAT Dismissed the revenue appeal based on detailed discussion.