https://www.taxtmi.com/caselaws?id=171176 The Tribunal ruled in favor of the appellants, finding they are not liable to pay Service Tax for leasing vacuum insulated storage tanks as they are not considered a banking or financial institution. The decision was based on the analysis of the lease agreement terms, legal provisions under Section 65 of the Finance Act, and relevant precedents indicating no transfer of ownership of assets to the lessees. The impugned order demanding Service Tax was set aside, and the appellants' appeals were allowed. en-us Thu, 01 Aug 2013 00:00:00 +0530 Mon, 06 Jul 2015 16:33:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171176 The Tribunal ruled in favor of the appellants, finding they are not liable to pay Service Tax for leasing vacuum insulated storage tanks as they are not considered a banking or financial institution. The decision was based on the analysis of the lease agreement terms, legal provisions under Section 65 of the Finance Act, and relevant precedents indicating no transfer of ownership of assets to the lessees. The impugned order demanding Service Tax was set aside, and the appellants' appeals were allowed. Case-Laws Service Tax Thu, 01 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171176