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The appellant took plots on long term lease for construction of commercial and business premises. The Tribunal held against the Appellant holding that the nature of lease, whether short term or perpetuity, did not make any difference to meaning of expression “leasing of immovable property” and also, the Act did not make any difference between a juristic person and an individual and therefore, the leasing of land was liable for service tax irrespective of the tenure. Aggrieved by the same, the present appeal is filed.
Held
The High Court upheld the Tribunal decision and confirmed that leasing of land for business/commercial purpose was taxable event and such amount charged was leviable under service tax under “leasing/renting of immovable property”.
