https://www.taxtmi.com/caselaws?id=129034 For interim relief, the Tribunal considered whether a lease-equipment arrangement with instalments collected as lease rentals could prima facie fall within "banking and other financial services" under the Finance Act, 1994. The appellant invoked ejusdem generis to argue that "any other body corporate" covers only entities engaged in financial activities akin to a financial institution, while the Revenue relied on the agreement's recitals and option-to-purchase clause to characterise the transaction as a financial service. Relying on earlier stay orders taking a similar prima facie view, the Tribunal granted waiver of pre-deposit and stayed recovery of the service tax and penalty pending disposal of the appeal. en-us Thu, 05 Mar 2009 00:00:00 +0530 Tue, 16 Apr 2013 16:44:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=129034 For interim relief, the Tribunal considered whether a lease-equipment arrangement with instalments collected as lease rentals could prima facie fall within "banking and other financial services" under the Finance Act, 1994. The appellant invoked ejusdem generis to argue that "any other body corporate" covers only entities engaged in financial activities akin to a financial institution, while the Revenue relied on the agreement's recitals and option-to-purchase clause to characterise the transaction as a financial service. Relying on earlier stay orders taking a similar prima facie view, the Tribunal granted waiver of pre-deposit and stayed recovery of the service tax and penalty pending disposal of the appeal. Case-Laws Service Tax Thu, 05 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=129034