The assessee along with other parties acquired the development rights to a certain piece of land situated in Nashik.
Subsequently, the said land was sold by the original owner to one ‘G’.
Further out of the sale consideration of Rs. 3 crores, an amount of Rs. 85 lakhs was received by the assessee.
Whether assessee was liable to pay service tax on amount received under category of ‘real estate agent services’ as pleaded by revenue – Held, no.
Citation: [2018] 93 taxmann.com 255 (New Delhi – CESTAT)