Service Tax on Receipts from ‘Special Purpose Vehicles’: Supreme Court issues Notice to ICICI [Read Order]

Two judge bench of SC in its interim order found no merits in the arguments made by ICICI Bank Ltd and granted the request for condonation of delay made by revenue
Service Tax - Special Purpose Vehicles - Supreme Court - Notice - ICICI - Receipts - Taxscan

The Supreme Court has dismissed the claims of the assessee regarding the use of Special Purpose Vehicles. The Supreme Court has allowed the request for condonation of delay made by Revenue The assessee, M/s ICICI Bank Ltd had been aggrieved by the confirmation of demand of ₹ 25,35,06,456 against them for the period between October…

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