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2014 (11) TMI 127 - HC - Service TaxWaiver of pre deposit - renting versus lease premium - renting of immovable property - assessee relied upon the decision in the case of Noida Industrial Development Authority [2014 (9) TMI 306 - CESTAT NEW DELHI] - Held that:- the levy could be on the quantum of rent received by such authority month to month or year to year or whether it would also include a tax leviable, if any, on a lump sum amount received as premium. The final view of the Principal Bench of the Tribunal is the service tax is leviable on the quantum of lease and not on the lease premium. The premium is a one time lump sum payment whereas the lease comes into effect and as an interest created in the immovable property on payment of the rent. That is not rent according to the Tribunal's final order. In such circumstances, while reserving any opinion on the correctness of this view, what we find is that the point at this stage appears to be prima facie covered in favour of the Appellant Assessee - Stay granted.
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