Association Of Leasing "," Financial Service Companies vs The Union Of India Ors.

Authority: Supreme Court Date: 2007-11-30 Section: 1994FA, 65(10), 1994FA, 65(12), 1994FA, 65(72)(zm), 1994FA, 65(105)(zm), 1994F Acts: Finance Act 1994, Finance Act 2001, Finance Act 2004, Finance Act 2007, Constitution of India, Reserve Bank of India Act 1934 Result: Revenue Citation: (2010) 235 CTR (SC) 521 : (2010) 46 DTR 209 Justices: S.H. Kapadia, C.J.; K.S. Radhakrishnan "," Swatanter Kumar, JJ. Appeal No: Civil Appeal No. 9344 of 2010**
Whether Parliament has legislative competence to levy service-tax on financial leasing services including equipment leasing and hire-purchase under the Finance Act, 1994 (as amended) in light of Article 366(29A) of the Constitution which deems such transactions as sales for State taxation under Entry 54 of List II --- Held Yes, the levy is constitutionally valid as service-tax falls within Parliament's residuary power under Entry 97 of List I and does not encroach upon State's power to tax deemed sales.

šŸ”’ Direct Access Blocked

For your security and to prevent unauthorized automated access, individual judgment links cannot be opened directly. Please access this content via Google Search or the TaxPundit Search Portal.

AI Deep Dive
0/5 selected

Membership Required

Unlock official PDFs for all landmark cases.

JOIN NOW āž”
Shopping Cart