TMI Blog2008 (7) TMI 147X X X X Extracts X X X X X X X X Extracts X X X X ..... the appraisers’ charges directly collected from the borrowers, which amounts had nothing to do with “Other Financial Services” mentioned under sub-clause (viii) of clause (12) of Section 65 - impugned order is set aside and this appeal is allowed. - S/100/2008 - 689/2008 - Dated:- 10-7-2008 - S/Shri P.G. Chacko, Member (J) and P. Karthikeyan, Member (T) Shri V. Alagappan, Consultant, for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppraisers) charged fees from the borrowers. These amounts were deposited with the bank by the appraisers. Each appraiser was allowed to withdraw their deposit at the month-end when the bank would recover 30% of the amount towards stationery expenses. The impugned demand of service tax is not on this amount recovered from the appraisers, nor on the loan granted to the borrowers. It is on the entire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the plea of the bank at once. It is not in dispute that the impugned demand is not on any amount of money lent by the bank to its borrowers. It is on the appraisers' charges directly collected from the borrowers, which amounts had nothing to do with Other Financial Services mentioned under sub-clause (viii) of clause (12) of Section 65 of the Finance Act, 1994. 4. In the result, the i ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
