CIDCO LTD. Vs. COMMISSIONER OF SERVICE TAX

JUDGEMENT

(1.) THE appeal and stay petition are directed against Order -in -Original No. 49/ST -II/RS/2013, dated 29 -8 -2013 passed by the Commissioner of Service Tax, Mumbai. Vide the impugned order, the adjudicating authority has confirmed a Service Tax demand of Rs. 136,56,00,263/ - for the period 1 -6 -2007 to 31 -3 -2012 along with interest thereon on the appellant, M/s. City & Industrial Development Corporation of Maharashtra Ltd. (CIDCO in short) by classifying the services rendered by them under "renting of immovable property service". He has also imposed an equivalent amount of penalty under Section 78 of the Finance Act, 1994, apart from penalties under Sections 76 and 77 of the said Act. Aggrieved of the same, the appellant is before us. The facts relevant to the case briefly are as follows:

(2.) THE learned Counsel for the appellant made the following submissions:

(3.) IN his rejoinder, the learned Counsel for the appellant submits that Section 65B(41) was introduced only with effect from 1 -7 -2012. Therefore, the said definition cannot be applied for the previous period. He also submits that the appellant is facing financial hardship and they are incurring losses and this fact should be kept in mind, while considering the petition for stay.