https://www.taxtmi.com/caselaws?id=210261 The Appellate Tribunal CESTAT, DELHI ruled in favor of the Appellant-banker, holding that profits earned from Foreign Exchange deals were not liable to service tax under the Finance Act, 1994. The Tribunal found no legislative intent to tax such profits under the Act, emphasizing that the law aimed to tax the gross value received for providing taxable services, not profits from dealing in foreign exchange. The Appeal was allowed, highlighting the importance of accurately interpreting statutory provisions and determining legislative intent in taxation laws. en-us Mon, 27 Jun 2011 00:00:00 +0530 Fri, 18 May 2012 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210261 The Appellate Tribunal CESTAT, DELHI ruled in favor of the Appellant-banker, holding that profits earned from Foreign Exchange deals were not liable to service tax under the Finance Act, 1994. The Tribunal found no legislative intent to tax such profits under the Act, emphasizing that the law aimed to tax the gross value received for providing taxable services, not profits from dealing in foreign exchange. The Appeal was allowed, highlighting the importance of accurately interpreting statutory provisions and determining legislative intent in taxation laws. Case-Laws Service Tax Mon, 27 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210261