https://www.taxtmi.com/caselaws?id=762701 CESTAT Allahabad allowed the appeal and set aside the service tax demand with interest and penalty. The tribunal found that amounts in dispute were accounting entries for amortization under Indian Accounting Standard 38A, not consideration for services received. The appellant did not receive any services from overseas vendors during the disputed period requiring reverse charge service tax payment. The demand treating these as Transfer of Intellectual Property Rights Service was unsustainable as no actual services were provided for these book entries relating to license fees, documentation fees, and computer software costs. en-us Mon, 02 Dec 2024 00:00:00 +0530 Fri, 06 Dec 2024 08:46:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762701 CESTAT Allahabad allowed the appeal and set aside the service tax demand with interest and penalty. The tribunal found that amounts in dispute were accounting entries for amortization under Indian Accounting Standard 38A, not consideration for services received. The appellant did not receive any services from overseas vendors during the disputed period requiring reverse charge service tax payment. The demand treating these as Transfer of Intellectual Property Rights Service was unsustainable as no actual services were provided for these book entries relating to license fees, documentation fees, and computer software costs. Case-Laws Service Tax Mon, 02 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762701