https://www.taxtmi.com/caselaws?id=171754 The Tribunal ruled in favor of the appellants in a case concerning the interpretation of "equipment leasing services" under section 65(11) of the Finance Act 1994 for the levy of service tax on ATM leasing services. The Commissioner's demand for over 59 lakhs for service tax, education cess, interest, and penalties related to ATM leasing services provided to banks was contested by the appellants. The Tribunal agreed with the appellants that leasing ATMs to banks did not constitute "banking and other financial services" as argued by the Revenue, leading to a waiver of pre-deposit and a stay of recovery for the tax, cess, and penalties. en-us Tue, 31 Jul 2007 00:00:00 +0530 Fri, 31 Jul 2015 13:10:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171754 The Tribunal ruled in favor of the appellants in a case concerning the interpretation of "equipment leasing services" under section 65(11) of the Finance Act 1994 for the levy of service tax on ATM leasing services. The Commissioner's demand for over 59 lakhs for service tax, education cess, interest, and penalties related to ATM leasing services provided to banks was contested by the appellants. The Tribunal agreed with the appellants that leasing ATMs to banks did not constitute "banking and other financial services" as argued by the Revenue, leading to a waiver of pre-deposit and a stay of recovery for the tax, cess, and penalties. Case-Laws Service Tax Tue, 31 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171754