https://www.taxtmi.com/caselaws?id=241303 The Tribunal ruled in favor of the respondent, determining that the leasing of aircraft parts did not constitute financial leasing services subject to service tax. The agreements in question did not meet the criteria of a finance lease as per the law, as there was no provision for the lessees to own the assets at the end of the lease period. Therefore, the Tribunal dismissed the Revenue's appeal, affirming that the leasing activity did not fall within the definition of financial leasing services under the Finance Act, 1994. en-us Fri, 22 Mar 2013 00:00:00 +0530 Thu, 14 Nov 2013 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241303 The Tribunal ruled in favor of the respondent, determining that the leasing of aircraft parts did not constitute financial leasing services subject to service tax. The agreements in question did not meet the criteria of a finance lease as per the law, as there was no provision for the lessees to own the assets at the end of the lease period. Therefore, the Tribunal dismissed the Revenue's appeal, affirming that the leasing activity did not fall within the definition of financial leasing services under the Finance Act, 1994. Case-Laws Service Tax Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241303