https://www.taxtmi.com/caselaws?id=239223 The Tribunal ruled in favor of the appellants, a company engaged in the manufacture of industrial gases, regarding the liability to pay service tax for providing banking and financial services. The Tribunal found that the activity of supplying vacuum insulated storage tanks on a lease basis did not constitute banking or financial services as per the Finance Act. The terms of the agreement indicated a leasing arrangement rather than a provision of banking services, leading to the dismissal of the service tax demand by the Revenue. en-us Fri, 02 Aug 2013 00:00:00 +0530 Sat, 04 Jul 2015 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239223 The Tribunal ruled in favor of the appellants, a company engaged in the manufacture of industrial gases, regarding the liability to pay service tax for providing banking and financial services. The Tribunal found that the activity of supplying vacuum insulated storage tanks on a lease basis did not constitute banking or financial services as per the Finance Act. The terms of the agreement indicated a leasing arrangement rather than a provision of banking services, leading to the dismissal of the service tax demand by the Revenue. Case-Laws Service Tax Fri, 02 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239223