https://www.taxtmi.com/caselaws?id=162887 The Appellate Tribunal CESTAT Mumbai ruled in favor of the applicants in a case concerning liability for service tax under section 65(10) of the Finance Act, 1994, related to hire purchase finance services. The Tribunal found that the transactions between the applicants and their customers constituted hire purchase finance agreements, not traditional hire purchase agreements, based on ownership and possession aspects. Citing legal precedents, including the apex court's decision in Sundaram Finance Ltd. v. State of Kerala, the Tribunal waived the pre-deposit of service tax, education cess, and penalties pending the appeal. en-us Thu, 02 Nov 2006 00:00:00 +0530 Tue, 18 Mar 2014 15:24:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162887 The Appellate Tribunal CESTAT Mumbai ruled in favor of the applicants in a case concerning liability for service tax under section 65(10) of the Finance Act, 1994, related to hire purchase finance services. The Tribunal found that the transactions between the applicants and their customers constituted hire purchase finance agreements, not traditional hire purchase agreements, based on ownership and possession aspects. Citing legal precedents, including the apex court's decision in Sundaram Finance Ltd. v. State of Kerala, the Tribunal waived the pre-deposit of service tax, education cess, and penalties pending the appeal. Case-Laws Service Tax Thu, 02 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162887