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TMI Blog2007 (6) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... y of 'Stock Broker' for payment of Service Tax. The Revenue proceeded against the appellants for demand of Service Tax. The Adjudicating authority in the Order-in-Original dated 23-12-2004 demanded the Service Tax of Rs. 5,03,517/-. He imposed penalty of Rs. 100/- per day under Section 76 and further penalty Rs. 25,000 under Section 78 of Finance Act, 1994. The appellants approached the Commissioner (Appeals). The Commissioner (Appeals) upheld the Order-in-Original. The appellants filed stay petition and appeal before the Tribunal. The Tribunal disposed of the stay application in its Stay Order No. 157/2007 dated 8-2-2007. The appeal is due for final hearing. In the meantime, the Commissioner of Service Tax passed the impugned Order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the original order was merged with the Order-in-Appeal. The Tribunal in the case of Composite Investments Pvt. Ltd. v. CCE [2006 (3) S.T.R. 120 (T-Bang.) = 2003 (162) E.L.T. 443 (Tribunal)] held that the Commissioner was not empowered to review an order passed by the Adjudicating Authority when an appeal against that order filed before the Commissioner (Appeals) is pending and such order is contrary to provisions of Section 84(4) of Finance Act, 1994. In view of the above, the impugned order has no merit and the same is set a side. The appeal is allowed with consequential relief. Appeal No. 35/2005 5. This appeal is filed against the Order-in-Appeal No. 33/2005-Central Excise dated 14-2-2005, passed by the Commissioner of Centra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uated to brokerage or commission. It is seen that the transaction charges collected have been paid to the National Stock Exchange of India Ltd. In Kohler's Dictionary for Accountants, 6th Edition, the term 'broker age' is defined as follows :- brokerage A commission, paid or accruing to a broker, arising from effecting a deal between seller and buyer, and borne by either party in accordance with custom, regulation or special agreement. It may be fixed, as in stock market transactions, by trade or government bodies, and may take any of various forms, such as a percentage or modification of selling price; a (finder's) fee; an underwriting or other discount (4); a concession or other advantage (whether or not transaction -r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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