https://www.taxtmi.com/caselaws?id=343564 The Tribunal ruled in favor of the respondent, determining that their activities were akin to money changing rather than foreign exchange broking. The Tribunal held that the respondent's purchase and sale of foreign exchange on their account did not attract service tax as foreign exchange broking until 15.05.2008. The decision was supported by a detailed analysis of the transactions, statutory provisions, and circulars, ultimately upholding the impugned order and rejecting the Revenue's appeal. No penalties were imposed on the respondent due to the nature of their activities and the applicable legal framework. en-us Fri, 26 May 2017 00:00:00 +0530 Fri, 10 Nov 2017 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343564 The Tribunal ruled in favor of the respondent, determining that their activities were akin to money changing rather than foreign exchange broking. The Tribunal held that the respondent's purchase and sale of foreign exchange on their account did not attract service tax as foreign exchange broking until 15.05.2008. The decision was supported by a detailed analysis of the transactions, statutory provisions, and circulars, ultimately upholding the impugned order and rejecting the Revenue's appeal. No penalties were imposed on the respondent due to the nature of their activities and the applicable legal framework. Case-Laws Service Tax Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343564