Appellate Tribunal denies insurance premium as input service for Directors & officers

The Appellate Tribunal CESTAT, Chennai rejected the stay application regarding insurance cover for Directors and officers of the assessee-company. The Commissioner (Appeals) held that the premium paid on the policies of insurance company qualifies as input service. The insurance cover has nexus with the business activity of "Trusteeship Services." The stay application was rejected.

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The Appellate Tribunal CESTAT, Chennai rejected the stay application regarding insurance cover for Directors and officers of the assessee-company. The Commissioner (Appeals) held that the premium paid on the policies of insurance company qualifies as input service. The insurance cover has nexus with the business activity of "Trusteeship Services." The stay application was rejected.

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