https://www.taxtmi.com/caselaws?id=78066 SC upheld that the service tax under Section 66 of the Finance Act, 1994 (as amended), on financial leasing services-including equipment leasing and hire-purchase-is a tax on the activity of financing and not on material or sale, and falls within Parliament's legislative competence under Entry 97, List I of the Seventh Schedule. Previous rulings supporting the levy were affirmed. Accordingly, the appeals were dismissed and no costs were awarded. en-us Tue, 26 Oct 2010 00:00:00 +0530 Tue, 26 Aug 2025 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78066 SC upheld that the service tax under Section 66 of the Finance Act, 1994 (as amended), on financial leasing services-including equipment leasing and hire-purchase-is a tax on the activity of financing and not on material or sale, and falls within Parliament's legislative competence under Entry 97, List I of the Seventh Schedule. Previous rulings supporting the levy were affirmed. Accordingly, the appeals were dismissed and no costs were awarded. Case-Laws Service Tax Tue, 26 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78066