2010 (6) TMI 247 - AT - Service Tax

Stock broker s services - Revenue raised demand from assessee stock broker on NSE/BSE transaction charges. On appeal Commissioner (Appeals) without deciding issue on merit dismissed same for non-compliance of stay order passed by him. Held that - since assessee had a good prima facie case impugned order was to be set aside and matter was to be remanded to Commissioner (Appeals) for decision on merit without insisting on pre-deposit.

Summary

The Appellate Tribunal CESTAT, Ahmedabad confirmed service tax of Rs. 6,16,715 against a stock broker on NSE/BSE transactions charges. NSE transaction charges became liable to service tax from May 2008. The tribunal allowed the stay petition without pre-deposit, remanding the matter to Commissioner (Appeals) for decision on merits.