Service Tax on long term lease of 99 years of Commercial Properties

Rajasthan Housing Board Vs CCE (CESTAT Delhi) The issue whether long term lease of 99 years will be covered within the definition of “Renting of Immovable Property” has been examined in very great detail by the Tribunal in the case of Greater Noida Industrial Development Authority vs. CCE&ST, Noida – 2015 (38) STR 1062 (Tri. Del.). The finding of the Tribunal is reproduced below: “9.2 The other plea of the appellant that the allotment of land by the appellant to various persons is on long term lease basis – the leases of 90 years, which amount to transfer of ownership and...