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TMI Blog2008 (9) TMI 272X X X X Extracts X X X X X X X X Extracts X X X X ..... I/(CSTB), - Dated:- 25-9-2008 - S/Shri M.V. Ravindran, Member (J) and K.K. Agarwal, Member (T) Shri Sagar Shah , C.A. , for the Appellant. Shri Y.D. Banga, SDR, for the Respondent. [Order per: M.V. Ravindran, Member (J)]. - All these four stay applications are field by the applicants for the waiver of the pre-deposit of the amount of service tax confirmed by the adjudicating authority. Since all the four appeals/stay petitions are in respect of the very same issue, though of different applicants/appellants, they are being heard together and disposed off by a common order. 2. The necessary facts that arise for consideration are all the applicants herein are builders/contractors constructing, developing residential an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtions of the agreements entered into by applicants with their customers. It is his submission that the applicants are collecting the amount as 'deposit' inform of a trustee and is not an act of volition but is of statutory obligation as per the provisions of Maharashtra Ownership of Flats (Regulation of promotion of construction, sale, management and transfer) Act 1963. He draws our attention to the various sections of the said Act. It is his submission that this is an activity which is done under the statutory obligation, the same is not an in result of any services provided by the applicants. It is his submission that there is no consideration which is received by the applicant and in fact these are the funds of the customers which are b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the applicants herein had collected the amount from their customers for the purpose of maintenance of the property. The ld. Chartered Accountant emphasis on the provisions of the Maharashtra Ownership of Flats (Regulation of promotion of construction, sale, management and transfer) Act 1963, needs to be gone into detail. We find that these provisions do cast an obligation on the builder/promoter to maintain separate account of the sums taken as advance deposit and the responsibility for payment of outgoings till the property is transferred to the proprietor. How far the provisions of the said Act, would apply to the provisions of the Finance Act, 1994, has to be gone to detail which can be done only at the time of final hearing. We also f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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