https://www.taxtmi.com/caselaws?id=456761 CESTAT Mumbai held that supply of wagons by private players to Railways under Own Your Wagon Scheme/Wagon Investment Scheme/Liberalized Wagon Investment Scheme for 2008-09 to December 2011 constitutes deemed sale, not service. The lease agreement transferred right of possession and effective control of wagons to Railways, satisfying requirements under Article 366(29A) of Constitution. Since transaction qualified as deemed sale attracting VAT, service tax under Section 65(105)(zzzzj) of Finance Act, 1994 was not leviable. Ministry of Railways clarification dated 11.06.2014 supported this position. en-us Fri, 15 Mar 2024 00:00:00 +0530 Mon, 12 Aug 2024 20:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456761 CESTAT Mumbai held that supply of wagons by private players to Railways under Own Your Wagon Scheme/Wagon Investment Scheme/Liberalized Wagon Investment Scheme for 2008-09 to December 2011 constitutes deemed sale, not service. The lease agreement transferred right of possession and effective control of wagons to Railways, satisfying requirements under Article 366(29A) of Constitution. Since transaction qualified as deemed sale attracting VAT, service tax under Section 65(105)(zzzzj) of Finance Act, 1994 was not leviable. Ministry of Railways clarification dated 11.06.2014 supported this position. Case-Laws Service Tax Fri, 15 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456761