Court Examines Service Tax Applicability u/s 65(12) & 105(zm) for Equipment Lease Not Tied to Financial Entities.

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....Banking and Financial services Section 65(12) r.w.s 105)(zm) - Fixed amount charged as lease of equipment - the appellants are not a banking company or a financial institution including a non-banking financial company or any other body corporate or commercial concern in relation to banking and other financial services - AT....