2018 (4) TMI 543

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....  the Ld. Commissioner (Appeals) has wrongly dropped the levy of Service Tax on the turnover charges paid by the assesse to the Stock Exchanges which was collected from the clients, the assessee is in appeal against confirmation of  demand by the Ld. Commissioner (Appeals) on the Computer Linkage Charges (CTCL) paid to the Stock exchanges and collected from the sub brokers. 3.  Ld. Advocate Shri Jigar Shah for the assessee appellant submits that the Computer Linkage Charges collected by the appellant from its sub broker is not in relation to any forward contract services, which has been provided by them, and hence cannot fall under the taxable category of Forward Contract Service. It is his contention that the said Linkage C....

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....n view of the principle laid down by the Hon'ble Supreme Court in Intercontinental Consultants and Technocrats Pvt. Ltd. s case (Supra). Their Lordships have observed as follows. "29) In the present case, the aforesaid view gets strengthened from the manner in which the Legislature itself acted. Realising that Section 67, dealing with valuation of taxable services, does not include reimbursable expenses for providing such service, the Legislature amended by Finance Act, 2015 with effect from May 14, 2015, whereby Clause (a) which deals with 'consideration' is suitably amended to include reimbursable expenditure or cost incurred by the service provider and charged, in the course of providing or agreeing to provide a taxable service....

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....features as also in the implication as to its meaning that arise by presumptions as to the intent of the maker thereof. 28. Of the various rules guiding how a legislation has to be interpreted, one established rule is that unless a contrary intention appears, a legislation is presumed not to be intended to have a retrospective operation. The idea behind the rule is that a current law should govern current activities. Law passed today cannot apply to the events of the past. If we do something today, we do it keeping in view the law of today and in force and not tomorrow's backward adjustment of it. Our belief in the nature of the law is founded on the bedrock that every human being is entitled to arrange his affairs by relying on the e....