https://www.taxtmi.com/caselaws?id=443946 The Supreme Court set aside the order by the Commissioner, Central Excise and CGST, New Delhi, ruling that corporate guarantees provided without monetary consideration to banks on behalf of a holding company did not constitute taxable services under the Finance Act, 1994. The Court emphasized the absence of evidence demonstrating any financial benefit received by the appellant for issuing the guarantees, thereby concluding that without consideration, the guarantees did not meet the criteria for taxable services. As a result, the appeals were allowed, and the order under appeal was overturned. en-us Tue, 26 Sep 2023 00:00:00 +0530 Fri, 06 Oct 2023 08:16:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443946 The Supreme Court set aside the order by the Commissioner, Central Excise and CGST, New Delhi, ruling that corporate guarantees provided without monetary consideration to banks on behalf of a holding company did not constitute taxable services under the Finance Act, 1994. The Court emphasized the absence of evidence demonstrating any financial benefit received by the appellant for issuing the guarantees, thereby concluding that without consideration, the guarantees did not meet the criteria for taxable services. As a result, the appeals were allowed, and the order under appeal was overturned. Case-Laws Service Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443946