2009 (7) TMI 85

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....vices under Section 65(12) of the Finance Act, 1994 read with the charging proviso under Section 65(105)(zm) of the said Act to levy service tax on the appellant.           2. Briefly the facts of the case suggest that the appellant had leased out its factory with the plant and machinery for a period of three years on payment of rent of Rs. 1 lakh per month. For the consideration so received, both the authorities below have held that the appellant being a limited company falls under the category of Body Corporate and since a body Corporate falls under Section 65(12) of the Finance Act, 1994, the appellant is said to have provided financial services through leasing. Definition of the term '....

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....e defined category providing leasing service shall be liable to service tax. Present appellant is therefore, liable to pay service tax on the activity of other financial services which is leasing. 5. Heard both the sides and perused the record. 6. There is no difficulty to understand that Section 65(105)(zm) has brought a banking company, a financial institutions including a non-banking financial company a body corporate and commercial concern providing service in relation to banking and other financial services are liable to service tax on the value of taxable services. The meaning of term other financial services is given by Section 65(12) of the Finance Act, 1994. One of the categories of service covered by such activity is financi....