https://www.taxtmi.com/caselaws?id=752883 CESTAT Hyderabad held that a revenue sharing arrangement between an advertising agency and client for electronic billboard operations constituted a joint venture/partnership rather than a taxable service. The business was frustrated due to a HC order dated 28.08.2007 arising from public interest litigation, making performance impossible under contract law. The deposit was subsequently converted to equity through novation agreement due to financial difficulties. The tribunal set aside the review order, confirmed the original order, and allowed the appeal with consequential benefits, finding no service tax liability on the transaction. en-us Tue, 12 Dec 2023 00:00:00 +0530 Mon, 20 May 2024 19:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752883 CESTAT Hyderabad held that a revenue sharing arrangement between an advertising agency and client for electronic billboard operations constituted a joint venture/partnership rather than a taxable service. The business was frustrated due to a HC order dated 28.08.2007 arising from public interest litigation, making performance impossible under contract law. The deposit was subsequently converted to equity through novation agreement due to financial difficulties. The tribunal set aside the review order, confirmed the original order, and allowed the appeal with consequential benefits, finding no service tax liability on the transaction. Case-Laws Service Tax Tue, 12 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752883