https://www.taxtmi.com/caselaws?id=238657 The Appellate Tribunal CESTAT AHMEDABAD granted the appellant's Stay Petition seeking waiver of pre-deposit for a confirmed Service Tax liability, interest, and penalties. The case involved the taxability of an advance received from M/s J.R. Construction, which was classified as an Unsecured Loan in their books. The Tribunal determined that loans cannot be considered advances taxable under the Finance Act, 1994, establishing a prima facie case for the waiver. Consequently, the waiver was granted, and recovery stayed pending appeal disposal, emphasizing the tax distinction between loans and advances. en-us Fri, 12 Jul 2013 00:00:00 +0530 Fri, 28 Nov 2014 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238657 The Appellate Tribunal CESTAT AHMEDABAD granted the appellant's Stay Petition seeking waiver of pre-deposit for a confirmed Service Tax liability, interest, and penalties. The case involved the taxability of an advance received from M/s J.R. Construction, which was classified as an Unsecured Loan in their books. The Tribunal determined that loans cannot be considered advances taxable under the Finance Act, 1994, establishing a prima facie case for the waiver. Consequently, the waiver was granted, and recovery stayed pending appeal disposal, emphasizing the tax distinction between loans and advances. Case-Laws Service Tax Fri, 12 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238657