13 November 2007
YES IT IS. HOLD ON FOR A MOMENT .IN TWO SEPARATE HIGH COURT JUDGEMENTS, THE LEVY WAS QUESTIONED . IN CHENNAI HIGHCOURT JUDGEMENT , THE PETITIONER WAS GRANTED AN INTERIM INJUNCTION ( till 22 ND OCT 07 AS REPORTED IN CA CLUB FORUM). AS THE COURT OBSERVED THAT PROPERTY BEING STATE SUBJECT THE CENTRE CANNOT LEVY ANY TAX. MUMBAI HIGH COURT SAID THERE IS NO SERVICE WHEN IMMOVABLE PROPERTY OWNERSHIP IS TRANSFERRED . BUT NONE OF THESE COURTS STAYED THE LEVY. INFACT IF IT WAS ALREADY COLLECTED, IT SHOULD BE DEPOSITED. BUT PL. DO NOT GO FOR FRESH /NEW REGISTRATIONS UNDER SERV. TAX ACT AS NEWER THINGS ARE COMING OUT EVERY DAY WITH NO FINALITY OR CONCLUSIVENESS. R.V.RAO
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