compensation received by the
appellants on account of delay in payment of EMI by the customer. As these charges
are not in the nature ... customers/borrowers by way of EMI over a
period of loan tenure. Accordingly, while computing the EMI, the appellants charges
pro-rata interest payable
Service Tax Appeal No.52436 of 2015
17
ADA is received in EMI (Equated Monthly Installment) from
purchaser over a considerable number of years ... their flats on EMI scheme, wherein the buyers are required
to pay installments towards the cost of the flat as per pre-
decided schedule
compensation
received by the appellants on account of delay in payment of EMI by the
customer. As these charges are not in the nature ... customers/borrowers by way of EMI over a period of loan tenure. Accordingly,
while computing the EMI, the appellants charges pro-rata interest payable
borrower is required to make the payment on Equated
Monthly Installments (EMI) basis, as per the terms and condition laid
down therein. The agreement provides ... paying the EMI amount. It has also been provided
that the assessee-appellants shall collect a levy of 2% as pre-
payment penalty, whenever
borrower is required to make the payment on Equated
Monthly Installments (EMI) basis, as per the terms and condition laid
down therein. The agreement provides ... paying the EMI amount. It has also been provided
that the assessee-appellants shall collect a levy of 2% as pre-
payment penalty, whenever
borrower is required to make the payment on Equated
Monthly Installments (EMI) basis, as per the terms and condition laid
down therein. The agreement provides ... paying the EMI amount. It has also been provided
that the assessee-appellants shall collect a levy of 2% as pre-
payment penalty, whenever
borrower is required to make the payment on Equated
Monthly Installments (EMI) basis, as per the terms and condition laid
down therein. The agreement provides ... paying the EMI amount. It has also been provided
that the assessee-appellants shall collect a levy of 2% as pre-
payment penalty, whenever
borrower is required to make the payment on Equated
Monthly Installments (EMI) basis, as per the terms and condition laid
down therein. The agreement provides ... paying the EMI amount. It has also been provided
that the assessee-appellants shall collect a levy of 2% as pre-
payment penalty, whenever
argument of appeal.
5.2 Undisputedly Appellants had extended the benefit of
pre-payment for the foreclosure of the loan extended by it
to the their ... first installment thereof, provided, however,
that no installment of Interest/ EMI is in arrears on the
date of payment and provided further that such payment
Appellant Banks only upon default or delay in repayment
of EMIs by borrowers, in terms of the loan agreements.
10.3.2 Penal interest ... Section 66E(e) to apply, there
must exist a conscious, positive and pre-agreed obligation to
tolerate an act, refrain from
