https://www.taxtmi.com/caselaws?id=312456 The Tribunal ruled in favor of the appellants, setting aside the impugned order that confirmed service tax demands on profits from foreign currency transactions. It held that the profit margin from such transactions is not taxable under the Finance Act, 1994, as it does not constitute consideration for taxable services. The decision emphasized consistency in tax treatment, aligning with previous Tribunal decisions and similar cases where such profits were not deemed taxable. The appeal was allowed, and no separate judgment was delivered. en-us Wed, 29 Mar 2023 00:00:00 +0530 Tue, 20 Feb 2024 06:29:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312456 The Tribunal ruled in favor of the appellants, setting aside the impugned order that confirmed service tax demands on profits from foreign currency transactions. It held that the profit margin from such transactions is not taxable under the Finance Act, 1994, as it does not constitute consideration for taxable services. The decision emphasized consistency in tax treatment, aligning with previous Tribunal decisions and similar cases where such profits were not deemed taxable. The appeal was allowed, and no separate judgment was delivered. Case-Laws Service Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312456