2007 (3) TMI 94

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..... B/C-I/(C.S.T.B) - Dated:- 9-3-2007 - [Order per : Jyoti Balasundaram, Vice-President]. - We have heard both sides on the above appeal against the Order of the Commissioner (Appeals) who has upheld the adjudication order passed by the Dy. Commissioner of Service Tax rejecting the claim of the appellants who are rendering service of Banking and financial services and Business Auxiliary Services f .....

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..... that the definition of goods under Section 65(50) of the Finance Act adopts the definition of goods from Section 2(7) of the Sale of Goods Act, 1930 which defines goods as "every kind of movable property other than actionable claims and money; and includes Stocks and Shares According to the appellants they are entitled to the benefit under notification for the reason that Stocks and Shares includ .....

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..... We find that both the appellants had raised a specific plea before the authorities below that 'mutual fund' is also 'goods' as per the definition of SEBI. The authorities below have not recorded any finding as to why Mutual Fund cannot be regarded as 'goods' so as to be covered under Notification 13/2002 (sic) (13/2003-S.T.). We, therefore, set aside the impugned order and remand the case to the .....

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