https://www.taxtmi.com/caselaws?id=361757 Service tax under Banking and Other Financial Services could not be sustained against a registered charitable trust conducting micro-lending to its members, because the trust did not fall within the statutory description of a banking company or financial institution read with the RBI Act. The demand also failed because the show cause notice proceeded only on the premise that the assessee was a financial institution, and tax could not be upheld on a fresh ground not alleged in the notice. Penalty on the admitted rent-a-cab liability was also set aside since that liability had already been paid before the notice. en-us Thu, 22 Mar 2018 00:00:00 +0530 Thu, 14 Jun 2018 06:56:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361757 Service tax under Banking and Other Financial Services could not be sustained against a registered charitable trust conducting micro-lending to its members, because the trust did not fall within the statutory description of a banking company or financial institution read with the RBI Act. The demand also failed because the show cause notice proceeded only on the premise that the assessee was a financial institution, and tax could not be upheld on a fresh ground not alleged in the notice. Penalty on the admitted rent-a-cab liability was also set aside since that liability had already been paid before the notice. Case-Laws Service Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361757