Service Tax : 

Supreme Court upheld levy of service tax on financial leasing services

The service tax imposed by section 66 of the Finance Act, 1994 (as amended) on the value of taxable services referred to in section 65(105)(zm) read with section 65(12) of the said Act, insofar as it relates to financial leasing services including equipment leasing and hire-purchase is within the legislative competence of the Parliament under Entry 97, List 1 of the Seventh Schedule to the Constitution.

Judgement of Supreme Court