https://www.taxtmi.com/caselaws?id=241458 The Tribunal ruled in favor of the appellant, overturning the service tax liability imposed on them for their lease activities. The Tribunal determined that the appellant's lease agreement did not qualify as financial leasing under the "banking and financial service" category, as they did not meet the criteria of a banking company or financial institution. By analyzing legal precedents and highlighting the absence of asset transfer and full risk and reward transfer characteristic of financial leasing, the Tribunal concluded that the appellant's activities were not subject to service tax under the specified category. en-us Thu, 23 May 2013 00:00:00 +0530 Tue, 02 Dec 2014 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241458 The Tribunal ruled in favor of the appellant, overturning the service tax liability imposed on them for their lease activities. The Tribunal determined that the appellant's lease agreement did not qualify as financial leasing under the "banking and financial service" category, as they did not meet the criteria of a banking company or financial institution. By analyzing legal precedents and highlighting the absence of asset transfer and full risk and reward transfer characteristic of financial leasing, the Tribunal concluded that the appellant's activities were not subject to service tax under the specified category. Case-Laws Service Tax Thu, 23 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241458