https://www.taxtmi.com/caselaws?id=441814 Brokerage or commission earned for services connected with public issues and IPO-related investment products was not taxable as Business Auxiliary Service because it did not arise from trading of listed securities and fell outside the relevant statutory definition for the period in question. The Tribunal followed its earlier view that such receipts cannot be brought into the service tax base by implication, and that amounts collected for onward payment to statutory or authorised bodies are not includible in taxable value. The demand was therefore unsustainable, and the connected penalties founded on that demand also could not survive. en-us Fri, 11 Aug 2023 00:00:00 +0530 Fri, 18 Aug 2023 08:45:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441814 Brokerage or commission earned for services connected with public issues and IPO-related investment products was not taxable as Business Auxiliary Service because it did not arise from trading of listed securities and fell outside the relevant statutory definition for the period in question. The Tribunal followed its earlier view that such receipts cannot be brought into the service tax base by implication, and that amounts collected for onward payment to statutory or authorised bodies are not includible in taxable value. The demand was therefore unsustainable, and the connected penalties founded on that demand also could not survive. Case-Laws Service Tax Fri, 11 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441814