9911796707
TMI Blog2018 (7) TMI 1013X X X X Extracts X X X X X X X X Extracts X X X X ..... been paid for lease of the land on which the respondent unit is situated within the SEZ. Since, the operation is approved by the LOA, the main condition of the Notification stands satisfies - the Bond also has been executed and accepted by the competent authority on 9/3/2016. Even though the lease agreement has been entered prior to such date, it is seen that the refund claim for the same in term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the Letter of Approval, the respondent entered into a Lease Agreement dated 14/12/2015 with M/s Mahindra World City,(Jaipur), Ltd to take the land on lease on which the unit was situated. The subject land was taken on lease for 90 years lease basis and the consideration paid to the lessor along with the service tax amounting to ₹ 47,12,048/-. Subsequently the respondent filed a claim befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ailed prior to the date of acceptance of Bond-CUM-LUT to be executed by the SEZ unit. Such Bond was accepted by the competent authority on 9/3/2016 but the lease agreement has been entered into prior to such date, IT on 14/12/2015. (iii) In view of the above the ld. DR argued that the refund claim has been wrongly allowed by the Commissioner (Appeals). 4. On behalf of the respondent, we hear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent unit is situated within the SEZ. Since, the operation is approved by the LOA, the main condition of the Notification stands satisfies. The lower authority has allowed refund by holding that long term lease for more than 90 years would also fall within the scope of Renting of Immovable Property Services. It is further noted that the Bond also has been executed and accepted by the competent a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
