2019 (11) TMI 65

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....confirmed demand of tax of Rs. 4,35,62,943/- under section 73 of Finance Act, 1994, along with interest thereon under section 75 of Finance Act, 1994, besides imposing penalty of like amount under section 78 of Finance Act, 1994. 2. The issue in dispute pertains to the non-inclusion of 'policy administration charge' collected from recipients of 'life insurance' service in the assessable value for discharging liability under Finance Act, 1994. In confirming the demand, Rule 5(1) of Service Tax (Determination of Value) Rules, 2006 has been relied upon. 3. Learned Counsel for appellant made elaborate submissions on the scope of taxability under section 65 of Finance Act, 1994 by pointing out that the taxable service, though incorporated ....

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....nder section 65(105)(zm) of Finance Act, 1994, for the period from 1st April 2004 to 31st March 2007, was given relief, vide order-in-original no. 6-8/STC/COMMR/2009-10 dated 7th December 2009 of Commissioner, Central Excise, Pune III, which dropped proceedings. 5. The impugned order covering the period from 2007 to 2008, consequent upon show cause notice dated 16th April 2013, by invoking the extended period, confirmed the demand and justified the inapplicability of bar of limitation thus  '14. The noticee has also stated that in the past they were issued with three show cause notices proposing to demand Service Tax on fund management service/policy administration charges under the taxable category of Banking and other Fin....