2013 (4) TMI 20

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..... hares through an agreement. Department contested the same and demanded service tax along with interest and penalties for that converted amount. - Held that – No service has been rendered in pursuance of the agreement which was entered due to the bann imposed by the Hon'ble High Court - stay granted. - ST/1485/2011 - - - Dated:- 21-6-2012 - P.G. Chacko And M. Veeraiyan, JJ. Appellant R .....

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..... nverted into equity shares. 3. Meanwhile, a show-cause notice dt. 04/12/2008 was issued proposing demand of service tax under the category 'sale of space and time for advertisement'. The original authority, by order dt. 13/03/2009, taking into account the proposal for conversion of the impugned amounts into equity shares, dropped the proceedings. The Commissioner in exercising of powers under Se .....

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..... considered the submissions from both sides and perused records. 7. Prima facie, we find that no service has been rendered in pursuance of the agreement dt. 14/01/2007 in view of the judgment of the Hon'ble High Court of Andhra Pradesh banning such advertisements and that the amounts paid to the appellant stand converted into equity shares and the same intimated to the Registrar of Companies. Und .....

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