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TMI Blog2017 (9) TMI 1491X X X X Extracts X X X X X X X X Extracts X X X X ..... being clear that sub-brokers in the commodities trade not enjoy the same privilege, the services rendered by appellant to M/s. Geojit Comtrade Ltd. is liable to service tax - demand upheld - appeal dismissed - decided against appellant. X X X X Extracts X X X X X X X X Extracts X X X X ..... f Excise & Custom in F. No.137/57/2006-CX dated 18.5.2007. The original authority did not agree to the argument and concluded that the appellant is promoting and marketing the service provided by M/s. Geojit BNP Paribas Financial Services Ltd. and M/s. Geojit Comtrade Ltd. and hence classifiable under Business Auxiliary Service defined under Section 65 (19)(vi) of Finance Act, 1994 which is a taxable service as per clause (105)(zzb) of Section 65 of the Finance Act. 3. Heard the learned AR and none appeared on behalf of the appellant, therefore, we proceed to decide the case on merits. 4. We have gone through the grounds of appeal wherein the appellant has stated that no service tax is leviable on the services provided by an authorized pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ade not enjoy the same privilege, the services rendered by appellant to M/s. Geojit Comtrade Ltd. is liable to service tax. The tax amount shall be so re-computed and penalties imposed under Section 76 and 78 shall be limited to that tax liability. 13. It is observed that penalties have been imposed under Section 76 and 78 of the Finance Act, 1994 in Appeal No.227/ST/CLT/2010, 14/ST/CLT/2011 and 226/ST/CLT/2010 which is improper considering the settled rulings of the Hon'ble Tribunal in re The Financers [2007 (8) STR 7 (Tri.-Del.)] and the decision of the Hon'ble High Court of Karnataka in re M/s. Motor World and Others [2012-TIOL-418-HC-KAR-ST]. The penalty imposed under section 76 is therefore set aside in the said appeals. The penalty i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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