TMI Blog2016 (5) TMI 451X X X X Extracts X X X X X X X X Extracts X X X X ..... commercial activity. As such we find the tax liability on that, prima facie, may stand. It is also found that tax liability on the office building of NRDA is, prima facie, sustainable and the financial position of the applicant is not in such bad shape in order to consider for total waiver of pre deposit. Therefore it is fit and appropriate to order for a pre deposit of ₹ 7 crore within a period of 8 weeks. - Stay granted partly - Application No. ST/STAY/50770, 50529, 50531/2014-ST(DB) IN Appeal No. ST/50609, 50422, 50423/2014-ST(DB) - Stay Order No. 50350-50352/2016-ST(DB) - Dated:- 29-3-2016 - MS. ARCHANA WADHWA, MEMBER (JUDICIAL) AND SHRI B. RAVICHANDRAN, MEMBER (TECHNICAL) For the Petitioner : Shri B.K. Singh, Advocate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng penalties and interest. 3. The Ld. AR contested the claim of the applicants. He submitted that while the applicants claim of non commercial nature of building may prima facie stand in respect of Era Business School, automotive testing centre and hostel for NIT and same will not apply to the office building of Naya Raipur Development Authority. He argued that NRDA are primarily a commercial entity engaged in development and sale of land. They have legal identity and have their business model reflected in profit and loss in their books of account. As per the definition for service tax levy it is sufficient if building is meant / occupied primarily for commerce or industry or for work intended for commerce or industry. From the scope of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ables amounting to ₹ 3,510 crores. The depreciation of ₹ 197 crores has been shown for the same period. He pleaded that the transitory loss shown as on 31.07.2015 is much more compensated by trading receivables and cash balance and the applicant is not in any financial difficulty in discharging the confirmed tax liability. On careful appreciation of the facts as mentioned above we find the tax liability on the office building of NRDA is, prima facie, sustainable and the financial position of the applicant is not in such bad shape in order to consider for total waiver of pre deposit. In the face of above finding of tax liability, keeping in view the above analysis and discussion we find it fit and appropriate to order for a pre d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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