https://www.taxtmi.com/caselaws?id=759969 CESTAT NEW DELHI held that service tax demand on ATM interchange fees received by Associate Banks from SBI for ATM deployment in shared network was unsustainable. The tribunal found SBI had implied authority to discharge service tax liability as agent of Associate Banks, preventing double taxation on same transaction. Service tax demand on notional consideration for free ATM services between SBG Banks was also set aside, as no-fee arrangement was contractual condition, not taxable consideration. However, extended limitation period invocation was upheld, finding no willful suppression with intent to evade tax. Appeals by SBI were allowed. en-us Wed, 25 Sep 2024 00:00:00 +0530 Fri, 11 Oct 2024 11:54:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759969 CESTAT NEW DELHI held that service tax demand on ATM interchange fees received by Associate Banks from SBI for ATM deployment in shared network was unsustainable. The tribunal found SBI had implied authority to discharge service tax liability as agent of Associate Banks, preventing double taxation on same transaction. Service tax demand on notional consideration for free ATM services between SBG Banks was also set aside, as no-fee arrangement was contractual condition, not taxable consideration. However, extended limitation period invocation was upheld, finding no willful suppression with intent to evade tax. Appeals by SBI were allowed. Case-Laws Service Tax Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759969