Dismissal of Appeal on Service Tax & Penalties for Business Auxiliary Services to ICICI Bank The appeal against the demand of service tax and penalties imposed on the appellants for providing business auxiliary services to ICICI Bank was dismissed ...
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Dismissal of Appeal on Service Tax & Penalties for Business Auxiliary Services to ICICI Bank
The appeal against the demand of service tax and penalties imposed on the appellants for providing business auxiliary services to ICICI Bank was dismissed by the Appellate Tribunal CESTAT, New Delhi. The tribunal held that the appellants were promoting retail finance as per the agreement terms, constituting business auxiliary services. The dismissal was based on the appellants receiving commission for services without paying any franchise fee to the bank.
The Appellate Tribunal CESTAT, New Delhi dismissed the appeal against the demand of service tax and penalties imposed on the appellants for providing business auxiliary services to ICICI Bank. The tribunal found that the terms of the agreement required the promotion of retail finance, thus constituting business auxiliary services. The appeal was dismissed as the appellants were receiving commission for their services and not paying any franchise fee to the bank.
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