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TMI Blog2024 (9) TMI 1494X X X X Extracts X X X X X X X X Extracts X X X X ..... PRIYA, MEMBER (TECHNICAL) Shri Shaubik Gupta, Advocate for the Appellant Shri Rajeev Kapoor, Authorised Representative of the Respondent ORDER M/s. Omaxe Chandigarh Extension Developers Private Limited [he appellant] has filed this appeal to assail the order dated 07.12.2018 passed by the Commissioner Central Tax, Delhi East, Commissionerate [the Commissioner] adjudicating two show cause n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rprises of the appellant for grant of loan from financial institutions without any consideration can be subjected to levy of service tax. 4. It is not in dispute that such corporate guarantees were provided by the appellant without any consideration. This is also clear from the show cause notice dated 15.07.2010 which mentions in paragraph 6.1 that no commission or interest or fee was charged by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial Services Ltd. [(2023) 5 Centax 57 (Tri.-Bom)]. The department contended that service tax would be leviable on corporate guarantee given for subsidiary company without any consideration. This contention was not accepted by the Tribunal and it was observed: "8. ................ Any activity must, for the purpose of taxability under Finance Act, 1994, not only, in relation to another, reveal a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;assessable value' is a determination for computing the measure of the levy and the latter must follow the former." 6. The Civil Appeal filed by the department against the aforesaid order for the Tribunal in Edelweiss Financial Services was dismissed by the Supreme Court and the decision is reported as 2023 (4) TMI 170 - SC Order [Commissioner of CGST and Central Excise vs. M/s. Edelweiss Fi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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