9911796707
TMI Blog2023 (4) TMI 170X X X X Extracts X X X X X X X X Extracts X X X X ..... : Mr. N. Venkatraman, A.S.G., Mr. Tathagat Sharma, Adv., Mr. Mukesh Kumar Maroria, AOR, Mr. V.C. Bharathi, Adv., Mr. Sidharth Sinha, Adv., Mr. Pratyush Srivastava, Adv. And Mr. Bhuvan Kapoor, Adv. For the Respondent(s) : Mr. Bharat Rai Chandani, Adv., Mr. Aneesh Mittal, AOR, Ms. Komal, Adv., Mr. Gaurav Titotia, Adv. And Mr. Deepak Kumar, Adv. ORDER Delay condoned. 2. Heard Mr. Tathagat Sharma, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial services and is therefore not taxable service. He would also read Section 65B (44) of the Finance Act 1994 to point out that the definition of service would indicate that it relates to only such service which is rendered for valuable consideration. 5. The counsel would next advert to paragraph 3.1.12 of the Commissioner's order where the following was recorded:- "further, the consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and 9 of the judgment of the Tribunal, which are extracted below :- "8. The criticality of 'consideration' for determination of service, as defined in section 65B(44) of Finance Act, 1994, for the disputed period after introduction of 'negative list' regime of taxation has been rightly construed by the adjudicating authority. Any activity must, for the purpose of taxability under Finance Act, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value' is a determination for computing the measure of the levy and the latter must follow the former." 7. The above would suggest that this was a case where the assessee had not received any consideration while providing corporate guarantee to its group companies. No effort was made on behalf of the Revenue to assail the above finding or to demonstrate that issuance of corporate guarantee to gr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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