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of <h1>Interim Stay Granted: Appellants Engaged in Lending, Not Hire Purchase; Pre-deposit Waived, Service Tax Recovery Stayed.</h1> <h3>KERALA TRANSPORT DEV. FINANCE CORPN. LTD. Versus COMMISSIONER OF C. EX., TRIVANDRUM</h3> CESTAT Bangalore granted an interim stay, determining that the appellants were engaged in lending rather than hire purchase business. Consequently, the ... - The Appellate Tribunal CESTAT Bangalore granted interim stay in the case based on the opinion that the appellants were not conducting hire purchase business but only lending business. The stay application was allowed, waiving pre-deposit and staying recovery of the service tax. The appeal is set for final hearing on 16-7-07.
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