https://www.taxtmi.com/caselaws?id=429365 For the period before 1.5.2011, policy administration charges, front end load and switching charges collected under unit linked insurance plans were held not taxable under the management of investment under ULIP entry. The Tribunal relied on the contemporaneous statutory framework, the Board's TRU circular and an earlier coordinate bench ruling, and treated the circular as binding on departmental officers. As a result, the Department could not recharacterise those charges differently for the relevant period, and the demand, interest and penalties were not sustainable. en-us Wed, 19 Oct 2022 00:00:00 +0530 Sat, 22 Oct 2022 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429365 For the period before 1.5.2011, policy administration charges, front end load and switching charges collected under unit linked insurance plans were held not taxable under the management of investment under ULIP entry. The Tribunal relied on the contemporaneous statutory framework, the Board's TRU circular and an earlier coordinate bench ruling, and treated the circular as binding on departmental officers. As a result, the Department could not recharacterise those charges differently for the relevant period, and the demand, interest and penalties were not sustainable. Case-Laws Service Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429365