Trusts' Fund Activities Subject to Service Tax, Department Claims Liability for Collecting and Investing Investor Funds.

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....Nature of Service – Collecting funds from investors - Demand of service tax was made by the department on the ground that amounts spent by various trusts which were known as ‘Funds’ and which were engaged in the activity of collecting funds from investors and investing them were liable to tax - prima facie case is against the assessee - AT....