2016 (3) TMI 354

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....Devanath, AOR, Mr. Vivek Sharma, Adv. And Mr. Abhishek Anand, Adv. ORDER Leave granted in SLP. Heard Mr. K. Radhakrishnan, learned senior counsel for the appellant and Mr. M.P. Vinod, Mr. Kunal Verma and Mr. M.P. Devanath, learned counsel for the respondents. In the lead matter, i.e., Civil Appeal No.7053 of 2011, the appellant is aggrieved by the judgment and order dated 27.07.2009 passed by the High Court of Kerala at Ernakulam in Central Excise Appeal No.13/2009 whereby the appeal has been dismissed. The other connected matters have also been decided on the basis of ratio laid down in the aforesaid judgment under appeal. The moot question of law falling for determination is whether the services provided by the respondent - Ba....

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....rmation System (MIS) reports, provided by banks to clients such as corporate clients." Mr. Radhakrishnan, learned senior counsel for the appellant has placed before us certain write-ups explaining the concept and meaning of cash management services. One of the write-ups appears to be an extract from the Research Journal of Management Sciences, Vol.3(12), 15-17, December (2014). A perusal of the write-ups supports the concept and meaning of cash management services appearing in the clarification letter of the CBEC dated 01.06.2007. It is not in dispute that under Clause (12) of Section 65, there was a specific mention in sub-clause (v) to the effect that the banking and other financial services means asset management including portfoli....