No service tax liability where parties buying & selling properties on principal to principal basis

Premium Real Estate Developers Vs C.S.T. Service Tax (CESTAT Delhi) Conclusion: Service tax cannot be imposed under the category “Real Estate Service” in absence of any defined consideration for the alleged service as both the parties were buying and selling property on principal to principal basis rather than as an agent and the principle. Held: In the present case, assessee-firm was in the business of real estate trade. It entered into an agreement of trading in land, wherein they agreed to transfer, a measurement or area of land, in a particular area in favour of the Sahara India. Such...