Reassessment under s.148A held valid; s.69 additions totaling Rs.7,00,000 deleted after acceptable contemporaneous explanations for property investmen...
Adjudication set aside; Rule 9 valuation based on internet engineer report quashed for Rule 3(4) non-compliance; Section 138B cross-examination requir...
CESTAT allowed the appeal and set aside the demand of service tax levied under the "Real Estate Agent Services" category against the Appellant, holding the transactions to be principal-to-principal sales of developed land/plotted property with no consideration for agency services; consequently, the tax demand, and related interest and penalties, were not sustainable. The Tribunal also observed that the Appellant had borne development risk, paid landowners fixed consideration, and retained profits as principal. With respect to the demand under "Construction of Residential Complex Service," the Appellant had already discharged tax and interest prior to the SCN, and therefore penalties in that regard were held not imposable. Appeal disposed of.
CESTAT allowed the appeal and set aside the demand of service tax levied under the "Real Estate Agent Services" category against the Appellant, holding the transactions to be principal-to-principal sales of developed land/plotted property with no consideration for agency services; consequently, the tax demand, and related interest and penalties, were not sustainable. The Tribunal also observed that the Appellant had borne development risk, paid landowners fixed consideration, and retained profits as principal. With respect to the demand under "Construction of Residential Complex Service," the Appellant had already discharged tax and interest prior to the SCN, and therefore penalties in that regard were held not imposable. Appeal disposed of.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
