9911796707
TMI Blog2018 (10) TMI 902X X X X Extracts X X X X X X X X Extracts X X X X ..... 203 of 2014, 10983, 11008, 11018, 12972, 13686, 20071, 22291 of 201518700/2016, 6641/2017, 13280/2017 - - X X X X Extracts X X X X X X X X Extracts X X X X ..... Supreme Court in AIR 2017 SC 3730. The decision of the Kerala High Court was specifically overruled. Later, some writ petitions filed were allowed, following the decision of the Honourable Supreme Court. One such judgment is challenged by the Revenue contending that the Apex Court has not considered the amendment of 2012. In such circumstances, the Writ Appeals/Writ Petitions have to be adjudicated based on the finding of the Honourable Supreme Court. 3. The issue briefly stated is, prior to 2007, there was definition of various 'Services' exigible to tax under Finance Act, 1994. Section 65(12)(v) defined "banking and other financial services", which was as follows:- (a) the following services provided by a banking company or a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es merely,- (i) a transfer of title in goods or immovable property, by way of sale, gift or in any other manner; or (ii) such transfer, delivery or supply of any goods which is deemed to be a sale within the meaning of clause (29A) of Article 366 of the Constitution; or (iii) a transaction in money or actionable claim; xx xx" The negative list is available under Section 66D. A transaction in money or actionable claim having been specifically excluded, the contention was that chit transaction would not come under the definition of 'service' as available in Section 65B(44). The issue agitated by the Revenue is as to whether between 2012 and 2015 there could be tax levied on the chit transactions deeming it to be a servic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty carried out, for a consideration, in relation to, or for facilitation of, a transaction in money or actionable claim, including the activity carried out - (a) by a lottery distributor or selling agent in relation to promotion, marketing, organizing, selling of lottery or facilitating in organizing lottery of any kind, in any other manner; (b) by a foreman of chit fund for conducting or organizing a chit in any manner." Herein, the transactions "by a foreman of chit fund for conducting or organizing a chit in any manner" was specifically excluded from the definition of transaction in money or actionable claim. As a consequence, the chit transaction becomes liable to tax under the Finance Act, 1994, from 2015 onwards. 7. The Reven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs the two periods as agitated before this Court in the batch of Writ Appeals/Writ Petitions. W.A.No.281/2018 filed by the Revenue is dismissed and the other Writ Appeals\Writ Petitions are allowed. 9. The assessees claim refund of the amount already paid on demand made by the authorities. However, we would not make any positive orders on the same, since the assessees would have to file applications for refund on the basis of the judgment of the Honourable Supreme Court. The matter will have to be considered, especially, looking into whether the tax was collected from individual subscribers and if so collected, whether there could be any refund effected. If no refund could be effected to the actual payee then the State would retain such am ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
