Rent-a-Cab Lease Agreements Classified as "Deemed Sale," Exempt from Additional Taxation Under Finance Act, 1994.

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....Rent-a-cab scheme operator Service - Deemed Sale - Agreements/contracts of ‘lease’ are, acknowledgedly, taxable as ‘deemed sale’; it is not the case of Revenue that any portion of the consideration for ‘lease’ is not ‘deemed sale’. As the entire rental is subject to tax as ‘deemed sale’, there is no scope for any portion thereof to be leviable to tax by the Union and, thereby, under Finance Act, 1994 - AT....