https://www.taxtmi.com/caselaws?id=217787 The appeal filed by a non-banking financial company against the Order-in-Original was successful as the income derived from the fleet card scheme was deemed to be interest on loans, exempt from service tax liability under relevant provisions. The Commissioner concluded that the income fell outside the scope of service tax as it was akin to interest on loans, following legal precedents and circulars exempting such income from taxation. The appellant's arguments emphasizing the nature of transactions and distinctions between fleet cards and credit cards were considered, leading to the appeal being allowed in favor of the appellant. en-us Fri, 27 Jan 2012 00:00:00 +0530 Tue, 16 Oct 2012 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217787 The appeal filed by a non-banking financial company against the Order-in-Original was successful as the income derived from the fleet card scheme was deemed to be interest on loans, exempt from service tax liability under relevant provisions. The Commissioner concluded that the income fell outside the scope of service tax as it was akin to interest on loans, following legal precedents and circulars exempting such income from taxation. The appellant's arguments emphasizing the nature of transactions and distinctions between fleet cards and credit cards were considered, leading to the appeal being allowed in favor of the appellant. Case-Laws Service Tax Fri, 27 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217787