https://www.taxtmi.com/caselaws?id=762061 CESTAT Ahmedabad held that appellant was entitled to service tax exemption under Sr. No. 37 of Notification No. 25/2012-ST for transfer of going concern. Revenue denied exemption claiming transferred software development business was not independent part since appellant was already in software development. Tribunal found the transferred business was exclusively developed for and provided to the buyer, making it an independent part of appellant's overall business. The exclusive software solution business transferred was absolutely independent from other software development activities for different customers. Since entire business related to specific buyer was transferred and not continued by appellant, exemption was granted. Demand for service tax with interest and penalty was set aside. en-us Thu, 21 Nov 2024 00:00:00 +0530 Sat, 23 Nov 2024 08:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762061 CESTAT Ahmedabad held that appellant was entitled to service tax exemption under Sr. No. 37 of Notification No. 25/2012-ST for transfer of going concern. Revenue denied exemption claiming transferred software development business was not independent part since appellant was already in software development. Tribunal found the transferred business was exclusively developed for and provided to the buyer, making it an independent part of appellant's overall business. The exclusive software solution business transferred was absolutely independent from other software development activities for different customers. Since entire business related to specific buyer was transferred and not continued by appellant, exemption was granted. Demand for service tax with interest and penalty was set aside. Case-Laws Service Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762061