https://www.taxtmi.com/caselaws?id=790362 Only the actual consideration received for a taxable service can be included in value under Section 67 of the Finance Act, 1994, so notional interest on a refundable security deposit taken for safe deposit lockers was excluded from service tax. The deposit was held to serve a purpose distinct from locker rent and did not alter the agreed rent or constitute consideration for the renting service; accordingly, the demand on notional interest was unsustainable. The commentary also notes that, absent a specific deeming provision, notional interest cannot be added to the taxable value. en-us Wed, 01 Apr 2026 00:00:00 +0530 Thu, 23 Apr 2026 17:28:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790362 Only the actual consideration received for a taxable service can be included in value under Section 67 of the Finance Act, 1994, so notional interest on a refundable security deposit taken for safe deposit lockers was excluded from service tax. The deposit was held to serve a purpose distinct from locker rent and did not alter the agreed rent or constitute consideration for the renting service; accordingly, the demand on notional interest was unsustainable. The commentary also notes that, absent a specific deeming provision, notional interest cannot be added to the taxable value. Case-Laws Service Tax Wed, 01 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790362