2015 (7) TMI 714

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....dvocate For the Respondent: Shri G.R. Singh, AR ORDER Per: Sulekha Beevi C.S. The issue posing for consideration in this appeal is whether the credit of service tax paid on the service of the Private Placement of Shares is admissible as input service credit as per the Cenvat Credit Rules. 2. Breif facts are as under:- The appellants are engaged in the manufacture of Automotive Wh....

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.... the ground that financial services availed by appellants for disposal of shares are not covered under the definition of "input services". The appellants defended the show cause notice submitting that the definition of "Input Services" as provided Under Rule 2 (l) included banking and financial services which are services used in relation to the business of manufacture. They also contended that th....

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....nput service in its right perspective. She relied on the following judgements in Semco Electric Pvt. Ltd Vs CCE, Pune 2012 (276) E LT 94 (TRI  Mumbai) and 2013 (30) ST are 572 (TRI  Mumbai),Aditya Birla Nuvo LtdVs CCE 2009 (14) ST are 304 (TRI  Ahmedabad). 4. On behalf of revenue it was submitted that the activity of private placement of shares is not an activity used by the appe....