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TMI Blog2017 (3) TMI 120X X X X Extracts X X X X X X X X Extracts X X X X ..... ding and, hence, the service is not legal consultancy, is fallacious. Transaction with International Financial Corporation (IFC) - whether liable to tax? - Held that: - the appellants have approached IFC for a loan arrangement and in connection with the same expenditures were incurred by them directly with IFC and also with third party appointed by IFC for due diligence. We note that the IFC Act 1958 clearly provides for immunity of all transactions and operations of IFC. Apparently transaction will involve another person with IFC - there is no separate exemptions required as the transaction of IFC were made immune to tax in terms of IFC Act. Appeal allowed - decided in favor of appellants. - Service Tax Appeal No. 311 of 2012 - Fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess Consultant Services in terms of Section 65 (105) of the Finance Act, 1994. The learned Counsel submitted that M/s Baker Bott is an international law firm based in Washington, U.S.A. and are involved in providing legal services. The appellant engaged their services in connection with extension of their LNG Terminal at Dahej, Gujarat. The learned Counsel elaborated the scope of service based on proposals made by the appellant and invoices raised by the service provider. 3. On second issue of services received from International Financial Corporation (IFC), the learned Counsel submitted that the IFC was set up by an international agreement to supplement the activities of World bank. Eligible projects in member countries were financed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r that the appellant called for proposals for selecting International Legal Consulting firm to provide various legal advisory services in relation to the project. On careful consideration to the scope of the proposal as well as bill raised by the service provider it is clear that the appellants received mainly legal consultancy service and not management or business consultant service. We also note that the finding of the Original Authority that the said legal firm did not represent the appellant in any Court or legal proceeding and, hence, the service is not legal consultancy, is fallacious. The scope of legal services encompasses advisory services also. We note that the law firm engaged by the appellant rendered service including advisor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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