2014 (8) TMI 919 - AT - Service Tax

Renting of immovable property service - Revenue wants to add to the assessable value of taxable service the notional interest on the security deposits received from the lessees - Held that - Tribunal in the case of Magarpatta Township Development & Constructions Co. Ltd. vs. CCE, Pune-III reported in 2013 (7) TMI 669 - CESTAT MUMBAI waived the pre deposit of the dues which were confirmed on the same grounds. In view of the above stay order, pre deposit of the dues is waived and recovery of the same is stayed during the pendency of the appeal. - stay granted.

Summary

The applicant, a Cost Accountant, filed for waiver of pre-deposit of interest and penalties related to renting of immovable property service. The Tribunal waived the pre-deposit and stayed recovery during the appeal, following a similar case involving Magarpatta Township Development & Constructions Co. Ltd. vs. CCE, Pune-III. The appeal was directed to be listed along with another case on a specific date.