2008 (2) TMI 76

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..... ce tax of Rs. 1,02,000/- under Section 73 of the Finance Act, 1994 from the appellants for the period 2004-05, in the category of "banking and financial services" defined under Section 65(10) of the said Act. The authorities have also imposed penalties on the assessee under Sections 77 & 78 of the Act. The appellants are engaged in the manufacture of "Vanaspati". During the above period, they had .....

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..... or the appellants inasmuch as the expression "body corporate" has been interpreted in the aforecited orders of the Tribunal as coming within the purview of "non-banking financial company". Admittedly, the appellants are not any non-banking financial company and, therefore, applying ejusdem generis principle, they are prima facie not covered by the expression "body corporate" used in the definition .....

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