TMI BlogCentre moves SC on levy of service tax on rental incomeX X X X Extracts X X X X X X X X Extracts X X X X ..... Centre moves SC on levy of service tax on rental income - News and Press Release Dated:- 19-8-2008 - News - The Centre today (August 18) sought the Supreme Court's intervention in deciding the constitutional validity of the Finance Act 2007 that empowers the government to impose service tax on rental income from commercial properties. A bench headed by Justice B N Agrawal while seeking reply fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om Retailers Association of India, Confederation of Real Estate Developers' Associations of India and Multiplex Association of India on the transfer petition filed by the Centre also stayed proceedings before various high courts. The Centre through Department of Revenue has sought transfer of petitions pending before the high courts of Bombay, Madras, Kolkata, Punjab and Haryana and Kerala on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that there was a likelihood of conflicting decisions. According to the petition, retailers, real estate developers and multiplex owners had filed writ petitions before various high courts challenging levy of service tax on leasing, letting, renting or any other similar arrangement in respect of immovable property for use in furtherance of business or commerce. It further said that they h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad challenged the constitutional validity of the Finance Act 2007 on the ground that it was beyond the legislative competence of the Union and thus Parliament cannot levy such a tax. Pantaloon Retail, Trent Ltd, Aditya Birla Retail Ltd, Archies, CISCO systems India, Citibank NA, DLF Universal, IBM India, ITC Ltd, McDonalds India, Reliance Petromarketing, Reliance Webstore, Bombay Dyeing, Titan I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndustries, Unilever India Exports, Adlabs Films and Bijli Group are among those who had sought relief contending that lease or license (including renting or letting out) was not a service. The associations had contended that its 156 member companies engaged in the organised retail trade were directly affected by the new levy of service tax on rent payable toward leasing out premises for commercia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l purposes. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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