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2018 (1) TMI 1219 - AT - Service TaxLiability of service tax - considerations received from RICO Industries Ltd. - time limitation - Held that: - As the appellant contested the demand on limitation considering the intricacies of the provisions of the agreement and the appellant being not the sole service provider and the full details were captured in the balance sheet and other documents of the appellant, the case for extended period for demand for the consideration received pursuant to the value of participation agreement cannot be sustained. Liability of service tax - consideration received due to termination of the arrangement - Held that: - no identifiable service can be attributed for such consideration. It is rather a termination of arrangement which itself the original authority held as a service. We note that by terminating the arrangement, the appellants are adversely put to certain business loss. The consideration has been paid for such loss. No identifiable service could be attributed for such payment during the material time - tax liability cannot sustain. Appeal allowed - decided in favor of appellant.
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