https://www.taxtmi.com/caselaws?id=361370 Interest received on loans advanced to a subsidiary was held not to be service charges under banking and other financial services. The records and letters before the authorities showed the receipt was interest, and the adjudicating authority produced no evidence to recharacterise it as consideration for a taxable service. In the absence of material establishing a taxable service, interest on lending was not exigible to service tax, so the demand, interest and penalties were set aside in favour of the assessee. en-us Tue, 22 May 2018 00:00:00 +0530 Wed, 06 Jun 2018 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361370 Interest received on loans advanced to a subsidiary was held not to be service charges under banking and other financial services. The records and letters before the authorities showed the receipt was interest, and the adjudicating authority produced no evidence to recharacterise it as consideration for a taxable service. In the absence of material establishing a taxable service, interest on lending was not exigible to service tax, so the demand, interest and penalties were set aside in favour of the assessee. Case-Laws Service Tax Tue, 22 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361370