https://www.taxtmi.com/caselaws?id=444664 Permanent assignment of leasehold rights, where the assignee is treated as lessee, rent is paid directly to the State authority and no reversionary interest remains with the transferor, falls outside renting of immovable property and is not liable to service tax. A one-time premium or salami received for such transfer is consideration for assignment of the leasehold interest, not periodic rent, and is therefore not taxable as renting services. Where the transactions were disclosed in records and returns and assignment deeds were produced to the department, suppression or wilful misstatement is not established, so the extended limitation period cannot be invoked. en-us Wed, 18 Oct 2023 00:00:00 +0530 Wed, 20 Mar 2024 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444664 Permanent assignment of leasehold rights, where the assignee is treated as lessee, rent is paid directly to the State authority and no reversionary interest remains with the transferor, falls outside renting of immovable property and is not liable to service tax. A one-time premium or salami received for such transfer is consideration for assignment of the leasehold interest, not periodic rent, and is therefore not taxable as renting services. Where the transactions were disclosed in records and returns and assignment deeds were produced to the department, suppression or wilful misstatement is not established, so the extended limitation period cannot be invoked. Case-Laws Service Tax Wed, 18 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444664