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2024 (3) TMI 131 - HC - Service TaxLevy of service tax - transfer of Intellectual Property Services - slump sale - transaction amounting to providing of service or not - service tax levied on the ground that it supplied their own invention and scientific discovery without clarification and bifurcation of the value in the sale and purchase agreement - HELD THAT:- After considering the facts of the case and referring to the statements recorded by the appellant during the course of investigation prior to issuance of the show-cause notice wherein it is made clear that the respondent has transferred the entire polymer division as a slump sale to SIPPL and accordingly the Tribunal has rightly observed after analysing the provisions of Section 65 pertaining to the definition of scientific or technical consultancy under Section 65(92) and intellectual property service as per Section 65(55b) of the Finance Act, 1994 read with the definition of slump sale as per Section 2(42C) of the Income Tax Act, 1961 has rightly held that in case of slump sale, there is no question of providing intellectual property service or scientific or technical consultancy as alleged by the appellant. The facts narrated in the impugned order of the Tribunal are not in dispute and in case of slump sale, there is no question of providing any service as per Section 65(92) as well as Section 65(55b) of the Finance Act, 1994 - the reasons assigned by the Tribunal and as such no question of law much-less any substantial question of law arises from the impugned order of the Tribunal. Appeal dismissed.
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