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2023 (10) TMI 498 - CESTAT NEW DELHILevy of Service Tax - notional interest towards security deposit taken by the appellant against the renting of safe deposits and private lockers - period from April, 2006 to March, 2012 - HELD THAT:- A perusal of the decision of the Tribunal in MURLI REALTORS PVT. LTD., MAGRPATTA TOWNSHIP DEVELOPERS & CONSTRUCTION CO. LTD., JAIN CONSTRUCTION, SAI CONSTRUCTION PVT. LTD., INDIA LAND INFRASTRUCTURE DEVELOPMENT PVT. LTD., RVS HOSPITALITY & DEVELOPMENT PVT. LTD., VANSUM INDUSTRIES AND THE MANJRI STUD FARM PVT. LTD. VERSUS COMMISSIONER OF CENTRAL EXCISE PUNE-II [2014 (9) TMI 461 - CESTAT MUMBAI] reveals that since the consideration for leasing of the property is rent, so what can be levied to service tax is only rent and notional interest on the security deposit cannot be subjected to levy of service tax. From decision of the Tribunal, it has to be held that service tax could not have been levied on the notional interest calculated by the department on the interest fee security deposit collected by the appellant. The five orders passed by the Commissioner (Appeals) that have been assailed in the five appeals cannot be sustained and are set aside - Appeal allowed.
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