The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore bench has held that the refund allowable on the amount of service tax paid on long-term lease of industrial land. The appellant had taken industrial lands on long term lease from Kerala Industrial Infrastructure Development Corporation (KINFRA) bypaying an upfront amount on long term lease, along with service tax. Thereafter, with the insertion of Section 104 into Chapter V of the Finance Act, 1994 with retrospective effect, the appellants requested for refund of the service tax paid by them on the upfront amount on long term lease of industrial lands. The above request, on adjudication came to be rejected, which rejection having upheld vide impugned Orders-in-Appeal, present appeals have been filed before this forum.
Source Taxscan
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