Service Tax on Compensation received by Buyer on Cancellation of Agreement to Sell an Immovable Property

M.N. Dastur & Company Private Limited Vs Commissioner of Service Tax (CESTAT Kolkata) Compensation received by Buyer on Cancellation of Agreement to Sell an Immovable Property Whether receipt of amount by the Buyer over and above the purchase price payable or paid at the time of signing of the contract is subject to levy of Service Tax under Section 66E(e) as Declared Service – “Agreeing to tolerate an act or a situation”. The assessee entered into Agreement to Sell for Purchase of residential properties and paid full price. A dispute occurred between Developer, Seller and Confirmin...