Background of the Situation
The assessee has rented different floors of a building to seperate tenants. One tenant has obtained a stay order from the honourable high court of a different state by questioning whether renting of immovable property amounts to a service.
Issues:
Whether the stay order gives relief to the assesee the service provider from paying service tax for the income from the particular tenant?
If so, Whether the Income from the particular tenant can be excluded in the computation of the threshhold limit of Rs 1,000,000 as mentioed in Finance Act ,1994(As amended)
Whether the assessee can treat the rental Income as gross receipts(Inclusive of Service Tax) and pay Service Tax "under protest" and claim refund in the event favourable verdict from the honourable high court.
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