2007 (12) TMI 134

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....r (J)]. -1. The substantive issue involved in this case is whether the appellants are liable to pay the service tax demanded by the Commissioner, for the period July 2001 to March 2006, as a reinsurance broker [within the meaning of "intermediary or insurance intermediary" defined under Section 2(1)(f) of the Insurance Regulatory and Development Authority Act, 1999 read with Section 65(56) of the ....

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....he outset, referred to Section 2(1)(f) of the IRDA Act as also to Regulation 2(1)(m) and Regulation 4 of the Insurance Brokers Regulations 2002. With reference to the functions of a reinsurance broker as enumerated under Regulation 4 ibid, we put specific queries to the SDR but, unfortunately, the answers to some of these queries are inconsistent with the Revenue's case brought out in the impugned....