9911796707
TMI Blog2011 (10) TMI 437X X X X Extracts X X X X X X X X Extracts X X X X ..... s no legal dispute about the taxability of the commission earned by mutual fund distributor. The core question required to be decided is as to whether the same is to be paid by mutual fund distributor or the mutual fund companies - In terms of provisions of Rule 2(1)(d)(vi), we find that such liability stands shifted to the recipient of the services i.e. the mutual fund company - there is no docum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant is a distributor of mutual fund units and receives commission from mutual fund companies or asset management companies. The commission received by the appellants from the said companies stand taxed by the authorities below on the ground that they have provided Business auxiliary services to the mutual fund company. 3. Learned advocate appearing for the appellants draws our attention to the d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rly agrees that the said legal issue could not be raised before the adjudicating authority as no reply was filed by them. 5. Learned DR for the revenue draws our attention to the Board s Circular No. 96/7/2007-S.T., dated 23-8-2007 which stands reproduced in the impugned order by the Commissioner (Appeals) as under :- Reference Code Issue Clarification (1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as not produced any evidence to show that mutual fund company has discharged the service tax. 6. After careful consideration of the submissions made by both the sides, we find that there is no legal dispute about the taxability of the commission earned by mutual fund distributor. The core question required to be decided is as to whether the same is to be paid by mutual fund distributor or the mu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stributor. As such, nothing turns in favour of the Revenue, on the basis of the above observations made by Commissioner (Appeals). 8. In any case, we find that the views of the authorities below on the above legal issues are not available. As such, we deem it fit to set aside the impugned order and remand the matter to the original adjudicating authority for de novo decision. The appellants are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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