2009 (3) TMI 98 - AT - Service Tax

Whether the agreement executed by the appellant amounts to equipment leasing by body corporate and that therefore is covered by the definition of financial leasing services - Prima facie, lower authorities have arrived at a finding that it is a body corporate without analysing the agreement in question and without ascertaining as to whether the appellant is covered by the said definition no any justification for insisting for any pre-deposit - clear case is made out of undue hardship - no any prejudice to be caused to respondent if stay is unconditionally granted stay granted

Summary

The appellate tribunal in New Delhi ruled in favor of the appellant, stating that the lower authorities did not properly analyze the agreement in question to determine if it falls under financial leasing services. They found no justification for requiring a pre-deposit and granted an unconditional stay on the matter. The appeal will be listed for hearing later.