https://www.taxtmi.com/caselaws?id=427796 Contractual forfeiture, security deposit recovery, penalty for short-lifting, demurrage and liquidated damages were examined for taxability as a declared service under section 66E(e) of the Finance Act, 1994. The Tribunal applied its earlier view that compensation for breach of contract is not, by itself, consideration for an agreement to tolerate an act or situation, and the revenue identified no distinguishing facts to depart from that reasoning. The argument that the earlier decision should be ignored because an appeal was pending before the Supreme Court was rejected, and the impugned service tax demand was set aside. en-us Fri, 12 Aug 2022 00:00:00 +0530 Sat, 17 Sep 2022 07:57:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427796 Contractual forfeiture, security deposit recovery, penalty for short-lifting, demurrage and liquidated damages were examined for taxability as a declared service under section 66E(e) of the Finance Act, 1994. The Tribunal applied its earlier view that compensation for breach of contract is not, by itself, consideration for an agreement to tolerate an act or situation, and the revenue identified no distinguishing facts to depart from that reasoning. The argument that the earlier decision should be ignored because an appeal was pending before the Supreme Court was rejected, and the impugned service tax demand was set aside. Case-Laws Service Tax Fri, 12 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427796