https://www.taxtmi.com/caselaws?id=758678 CESTAT Chennai held that appellant's investment activities in mutual funds and securities constituted investment rather than trading of goods. The appellant invested surplus income in mutual funds, showing transactions under "investing activities" in financial statements, not as trading income. Since appellant maintained only an investment portfolio and was not engaged in business of securities trading, the activity did not qualify as exempted service under trading of goods provisions. Revenue's demand for 6% value under Rule 6(3)(iii) of CCR 2004 was unsustainable. Appeal allowed, impugned order set aside. en-us Thu, 01 Aug 2024 00:00:00 +0530 Tue, 17 Sep 2024 20:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758678 CESTAT Chennai held that appellant's investment activities in mutual funds and securities constituted investment rather than trading of goods. The appellant invested surplus income in mutual funds, showing transactions under "investing activities" in financial statements, not as trading income. Since appellant maintained only an investment portfolio and was not engaged in business of securities trading, the activity did not qualify as exempted service under trading of goods provisions. Revenue's demand for 6% value under Rule 6(3)(iii) of CCR 2004 was unsustainable. Appeal allowed, impugned order set aside. Case-Laws Service Tax Thu, 01 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758678