2014 (1) TMI 767

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.... Shri Ganesh Haavanur, Addl. Commissioner (AR), for the Respondent. ORDER Heard both sides on the stay petition. 2. The applicant is a registered stock broker. They have been issued with a registration certificate for this purpose. In addition, the applicant is also registered as Depository Participant in terms of Depositories Act, 1996. The applicant has been paying service tax on t....

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.... need not be a Depository Participant and vice versa. Further, he submits that investors need not avail both the services from the applicant. Even a Bank can act as a Depository Participant. Therefore, the services rendered by them as Depository Participant to some of the investors at their option cannot be treated as part and parcel of the stock broker services. 4. Learned Additional Comm....