https://www.taxtmi.com/caselaws?id=391838 The Tribunal ruled that profit earned by the appellants from the sale and purchase of space on ocean-going vessels is not liable to service tax as it constitutes a sale and purchase transaction without any service element. Citing legal precedents, including cases such as Chinubhai Kalidas & Bros vs. CST, Ahmedabad, the Tribunal held that the surplus earned from such transactions does not attract service tax. Therefore, the service tax demand was set aside, and the appeals were allowed. en-us Thu, 22 Aug 2019 00:00:00 +0530 Sat, 08 Feb 2020 07:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391838 The Tribunal ruled that profit earned by the appellants from the sale and purchase of space on ocean-going vessels is not liable to service tax as it constitutes a sale and purchase transaction without any service element. Citing legal precedents, including cases such as Chinubhai Kalidas & Bros vs. CST, Ahmedabad, the Tribunal held that the surplus earned from such transactions does not attract service tax. Therefore, the service tax demand was set aside, and the appeals were allowed. Case-Laws Service Tax Thu, 22 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391838