https://www.taxtmi.com/caselaws?id=358617 Service tax on a finance arrangement routed through a foreign institution was held unsustainable because the immunity under the International Finance Corporation (Status, Immunities and Privileges) Act, 1958 was treated as extending to operations and transactions connected with the institution. The contrary view, that immunity would not apply merely because the assessee dealt with the institution, was rejected. The connected penalty was also found unsustainable because it rested on the same invalid levy and the disputed amount had been paid promptly after notice. The remaining admitted tax liability was not contested. en-us Tue, 27 Feb 2018 00:00:00 +0530 Mon, 16 Apr 2018 06:08:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358617 Service tax on a finance arrangement routed through a foreign institution was held unsustainable because the immunity under the International Finance Corporation (Status, Immunities and Privileges) Act, 1958 was treated as extending to operations and transactions connected with the institution. The contrary view, that immunity would not apply merely because the assessee dealt with the institution, was rejected. The connected penalty was also found unsustainable because it rested on the same invalid levy and the disputed amount had been paid promptly after notice. The remaining admitted tax liability was not contested. Case-Laws Service Tax Tue, 27 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358617