2015 (10) TMI 2231

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..... ppeal against the impugned order wherein the Commissioner has allowed the Cenvat credit of Service Tax paid on 'Banking and Financial Services' which were utilized for sale of shares by the assessee. I find myself in agreement with the findings of the learned Commissioner which reads as under : "I have gone through the case and the findings of the Adjudicating Authority confirming the demand made .....

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..... f inputs, activities relating to business, such as accounting, auditing, financing, recruitment and quality control, coaching and training, computer networking, credit rating, share registry, and security, inward transportation of inputs or capital goods and outward transportation up to the place of removal;   The issue is whether the financial advisory service rendered would fall withi .....

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..... o doubt that the service rendered is covered under the definition of Banking and Financial Services and is a taxable service. The activity of disposal of the share holding would only ensure that the finances are restructured and are available for deployment by the company such as working capital requirement, purchase of new machinery, raw materials, etc. Therefore, the contention of the appellants .....

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