9911796707
TMI Blog1997 (9) TMI 1X X X X Extracts X X X X X X X X Extracts X X X X ..... f recovery of Rs. 1,98,265.00 demanded by way of service tax plus interest thereon for the period from July, 1994 to September, 1994. The applicant herein is a stock broker. In the course of scrutiny of returns submitted by the applicant for the aforesaid period, it came to the notice of the Superintendent of Central Excise, Service Tax Cell, that the applicant has not charged brokerage in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terms of clause (a) of that Section, the value of taxable service has been defined in relation to service provided by a broker to be the aggregate of the commission or brokerage charged by him on the sale or purchase of securities from the investors, and includes the commission and brokerage paid by the stock broker to any sub-broker. He submits that this clause does not at all have the concept o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing to Shri Rohit Shukla. 4. Opposing the contentions, learned SDR, Shri T. Prem Kumar for the Revenue submits that under Section 72 of the Finance Act, best judgment can be resorted to by the Central Excise Officers in the three circumstances mentioned therein. He points out that the case of the applicant falls in Clause (c) of the said Section where the Central Excise Officer is not satisfied w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the Superintendent has stated that the brokerage must be charged in all cases and there is no free service provided by a stock broker at all having regard to the practice of the trade. 6. On the other hand, we find sufficient force in the submissions of the learned Chartered Accountant, Shri Rohit Shukla that Section 67 of the Finance Act relating to service tax does not have the concept of dee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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