https://www.taxtmi.com/caselaws?id=759250 The Tribunal set aside the impugned order confirming the demand for service tax on corporate guarantees provided without consideration, aligning with the precedent in the Edelweiss Financial Services case. The appeal by M/s. Omaxe Chandigarh Extension Developers Pvt. Ltd. was allowed, and the department's Cross-Objection was dismissed. The judgment clarified that such guarantees do not fall under the purview of service tax under the Finance Act, 1994, as upheld by the SC. This decision establishes a clear precedent for the non-taxability of corporate guarantees issued without consideration. en-us Wed, 25 Sep 2024 00:00:00 +0530 Thu, 26 Sep 2024 09:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759250 The Tribunal set aside the impugned order confirming the demand for service tax on corporate guarantees provided without consideration, aligning with the precedent in the Edelweiss Financial Services case. The appeal by M/s. Omaxe Chandigarh Extension Developers Pvt. Ltd. was allowed, and the department's Cross-Objection was dismissed. The judgment clarified that such guarantees do not fall under the purview of service tax under the Finance Act, 1994, as upheld by the SC. This decision establishes a clear precedent for the non-taxability of corporate guarantees issued without consideration. Case-Laws Service Tax Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759250