https://www.taxtmi.com/caselaws?id=312922 CESTAT Mumbai ruled that operating lease agreements for motor vehicles constitute deemed sale under Article 366(29A)(d) of the Constitution, not rent-a-cab services, making them subject to VAT rather than service tax. The tribunal found extended limitation period cannot be invoked as appellant had bonafide belief while paying VAT on these transactions. Service tax liability on fleet management charges was remanded to original authority for re-determination. Penalties under Section 78 were set aside due to limitation bar, while penalties under Sections 76 and 77 were remanded for fresh consideration. Appeal partially allowed with remand. en-us Wed, 02 Mar 2022 00:00:00 +0530 Fri, 15 Mar 2024 06:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312922 CESTAT Mumbai ruled that operating lease agreements for motor vehicles constitute deemed sale under Article 366(29A)(d) of the Constitution, not rent-a-cab services, making them subject to VAT rather than service tax. The tribunal found extended limitation period cannot be invoked as appellant had bonafide belief while paying VAT on these transactions. Service tax liability on fleet management charges was remanded to original authority for re-determination. Penalties under Section 78 were set aside due to limitation bar, while penalties under Sections 76 and 77 were remanded for fresh consideration. Appeal partially allowed with remand. Case-Laws Service Tax Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312922