2007 (2) TMI 83

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....lants are sub-brokers of a main broker named Master Capital Services Ltd. They received certain commissions from the main broker in connection with the brokerage undertaken by them. Service tax demands have been confirmed against the appellants on the ground that their commission is liable to service tax as 'stock broker service'. 3. The contention of the appellants is that, in these cases, stock....

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....the sides, we feel that the appeals themselves are required to be disposed of. Accordingly, we proceed with the appeals after waiving the requirement of pre deposits. 6. it is clear from the definition of the levy that 'levy is in connection with the sale and purchase of securities'. In the present case, sale and purchase of security in the Stock Exchange is handled only by the main broker and th....