https://www.taxtmi.com/caselaws?id=297 Liability under the service tax entry for a non-banking financial company depends not merely on RBI registration but on whether the entity satisfies the statutory definition by carrying on, as its principal business, the receiving of deposits or lending of money. A registration certificate alone is insufficient to establish that condition. The relevant factual enquiry must be made on the basis of the material on record and the reply to the show cause notice, rather than by assuming the statutory status from registration alone. The departmental authority must therefore examine the principal-business test afresh before proceeding further. en-us Mon, 08 Aug 2005 00:00:00 +0530 Tue, 01 Jul 2008 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297 Liability under the service tax entry for a non-banking financial company depends not merely on RBI registration but on whether the entity satisfies the statutory definition by carrying on, as its principal business, the receiving of deposits or lending of money. A registration certificate alone is insufficient to establish that condition. The relevant factual enquiry must be made on the basis of the material on record and the reply to the show cause notice, rather than by assuming the statutory status from registration alone. The departmental authority must therefore examine the principal-business test afresh before proceeding further. Case-Laws Service Tax Mon, 08 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297