2015 (2) TMI 886

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..... e short issue involved in the matter is that whether the appellant is required to pay service tax on notional interest accrued on security deposits for renting of immovable property is liable to service tax or not. 3. The contention of the ld. counsel for the appellant is that the security deposit is refundable and only to secure default in payment of renting, utility charges or other charges pay .....

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..... t agreed upon between the parties for the purpose of levy of service tax for renting of immovable property. Therefore, we hold that the appellant is not required to pay service tax on notional interest on security deposit under the category of renting of immovable property service. 6. With these observations, impugned order is set aside, the appeal is allowed with consequential relief, if any. ( .....

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