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TMI Blog2013 (12) TMI 1123X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent : Ms D M Durando, Dy.Comm. (AR) PER : P R Chandrasekharan The appeal is directed against Order-in-Appeal No.SVS/302/NGP-I-ST/2005 dated 31/08/2005 passed by Commissioner of Central Excise & Customs (Appeals), Nagpur. 2. The appellant, M/s.Vidarbha Iron & Steel Corporation Ltd., Nagpur, entered into a lease agreement for lease of land, building, plant and machinery and other equipment incl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... period 16/07/2001 to 28/02/2003 classifying the service rendered by the appellant as "banking and financial service" along with interest thereon. Penalties were also imposed. The appellant preferred an appeal before the lower appellate authority, who came to the conclusion that the activity undertaken by the appellant merits classification under "banking and financial service". However, the value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also submits that the appellant is not a banking company or non-banking financial institution or any such institution notified by the RBI which is in the primary business of receiving deposits or lending money and therefore, they are not liable to pay service tax. He also relies on the decision of the Tribunal in the case of GE India Industries (P) Ltd., {2008 (12) STR 609 (Tri-Ahmed)} and Banswar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notified by the RBI whose primary business is of receiving deposits or lending money. Therefore, the appellant is not a service provider envisaged in law in respect of banking and financial services at the point of time. The appellant is a mere lessor of the land, plant and machinery owned by him. This Tribunal, in similar circumstances, in the case of GE India Industries (P) Ltd and Banswara Syn ..... X X X X Extracts X X X X X X X X Extracts X X X X
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