2011 (8) TMI 438

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....ng Stay Application ld. AR for the appellant submits that demand was raised against appellant on three counts. Service Tax demand of Rs. 73,437/- was made alleging that there was short payment of service tax, tax of Rs. 28,07,537/- was imposed taxing transaction charges to form part of gross value and there was levy of service tax of Rs. 71,92,261/- on the delay pay-in-charges classifying the serv....

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....tock exchange for period from 19.4.06 to 16.5.08, there shall not be levy. A pure agent being a different person under law for collection of statutory levy, the adjudication is bad. Transaction charges are subject to service tax w.e.f . 16.5.08 under the category of stock exchange service/processing and clearing house services. Lateral entry does not widen the scope of former entry in taxing statu....

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....of pre-deposit for hearing appeal. 2. Ld. DR supports the adjudication order. 3. Heard both sides and perused findings of the ld. Adjudicating authority. 4.1 The authority examined the issue of reconciliation and found that there was a short payment of service tax of Rs. 73 ,437 /-. This comes out from para 21 of the order. The taxability of transaction charges was dealt by the authority ....

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....ppellant to the service recipients. 4.3 In so far as service tax on IPO commission is concerned, the authority dealt this aspect in para 56 of the order bringing out that such receipt under the category of business auxiliary service. He was of the view that the appellant received such commission from two sources. The first one is brokerage/trailer fee from mutual fund and secondly, brokerage fr....