https://www.taxtmi.com/caselaws?id=190740 Leasing of an entire factory, together with plant, machinery and other assets, by a manufacturing unit was not treated as taxable banking and other financial services where the arrangement was a fixed-term rental lease, with no transfer of ownership, no right for the lessee to acquire the assets, and no other features of financial leasing. The Tribunal noted that the service entry covers financial leasing, equipment leasing and hire-purchase, but mere leasing of factory premises and machinery by a non-lease-finance business does not satisfy those attributes. On that basis, the tax demand was held unsustainable and the Revenue's appeals were rejected. en-us Fri, 04 Oct 2013 00:00:00 +0530 Fri, 24 Feb 2017 13:25:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190740 Leasing of an entire factory, together with plant, machinery and other assets, by a manufacturing unit was not treated as taxable banking and other financial services where the arrangement was a fixed-term rental lease, with no transfer of ownership, no right for the lessee to acquire the assets, and no other features of financial leasing. The Tribunal noted that the service entry covers financial leasing, equipment leasing and hire-purchase, but mere leasing of factory premises and machinery by a non-lease-finance business does not satisfy those attributes. On that basis, the tax demand was held unsustainable and the Revenue's appeals were rejected. Case-Laws Service Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190740