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TMI Blog2011 (4) TMI 822X X X X Extracts X X X X X X X X Extracts X X X X ..... e Department. Commercial Training or Coaching Services - Held that:- The assessee has not been able to make out a prima-facie case against the order of the demand thus order pre-deposit of the same within four weeks and report compliance on 24/05/2011 before the Assistant Registrar of this Bench. Banking and other Financial Services (BOFS) - Held that:- As regards the remaining amount of &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10,132/- b. Interest. c. Penalty - Rs.20,10,132/- u/s 78. The lion's share of the service tax demand is an amount of Rs.18,42,098/- being service tax on courier charges received by the appellant from its customers. Another amount of Rs.59,000/- is demanded towards Commercial Training or Coaching Services. Yet another demand of Rs.1,07,867/- is confirmed towards Banking and other Fina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ew of the correct legal stand taken by the Commissioner in respect of M/s. Karvy Stock Broking Ltd., the demand on same charges confirmed for the same activity by the appellant is not sustainable. We have also heard the ld. DR., who submits that the communication intimating dropping of the audit objection was issued only to the Assistant Commissioner by the Jt. Commissioner(Audit). This did not re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed from the definition of "Banking Other financial services" in sub-clause (v) of Section 65(12). We find from the CBEC Circular F.No.B.11/1/2001-TRU dt. 9/7/2011 that custodial depository services meant safe keeping of securities of a client and providing services incidental thereto. The demand is for having rendered 'depository participant' services. 4. In view of the above, stay application ..... X X X X Extracts X X X X X X X X Extracts X X X X
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