2011 (7) TMI 886

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....asimhan, Advocate Per Mathew John: The Respondent acted as agent for distribution of Mutual Fund units of various Asset Management Companies. The Asset Management Companies paid them commission for rendering service as their agents. The Ministry of Finance vide Circular No. 66/15/2003-ST dated 5.11.2003 issued a clarification that such commission is liable to service tax under heading of Bus....

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....d the refund claim of the Respondent on the ground that it had passed on the incidence to the Asset Management Companies. Aggrieved by the order, the Respondent filed an Appeal with the Commissioner (Appeals). They produced copies of letters issued by the following Asset Management Companies :- (i) M/s Templeton Asset Management (India) Pvt. Ltd. (ii) M/s Prudential ICICI Asset Management Co....

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....his Appeal. The main argument on behalf of the department is that since the letters from the Asset Management Companies indicate that the amount paid by them was inclusive of all taxes and levies including Service Tax, it has to be understood that the incidence of Service Tax has been passed on to the Asset Management Companies and refunding such tax paid could result in unjust enrichment to the R....

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....e was fixed and the assessee had to pay disputed excise duty from the total consideration offered to them by the buyer. The Revenue challenged this decision before the High Court of Calcutta and the Hon#ble High Court affirmed the decision of the Tribunal. Revenue took the matter to the Supreme Court and the Supreme Court in CCE Vs. Panihati Rubber Ltd. reported in 2006 (202) ELT 41 (SC) affirmed ....