2026 (5) TMI 756

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....'BLE MR. JUSTICE S.G. PANDIT AND HON'BLE MR. JUSTICE K. V. ARAVIND For the Appellant : Sri Aravind V Chavan, Advocate Sri Neeralgi Jeevanbabu Jagadish, Advocate For the Respondent : Sri G. Shivadas, Senior Counsel For Smt. Tanmayee Rajkumar, Advocate ORAL JUDGMENT PER: HON'BLE MR. JUSTICE K. V. ARAVIND: Heard Sri. Aravind.V.Chavan, learned Senior Standing Counsel for the appellants and Sri. G.Shivadas, learned Senior Counsel on behalf of Smt. Tanmayee Rajkumar, learned counsel for the respondent. 2. All these appeals are filed by the Revenue and raise common questions of law. The learned Senior Standing Counsel and the learned Senior Counsel appearing for the respective parties advanced common arguments. Accord....

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....sactions in money only? (iii) Whether the Tribunal is right in extending deposit insurance scheme as an input service when essentially there was no service at all by banks, and therefore no output services also, in the business of banking, i.e., when the business of banking was transactions in money only? (iv) Whether the Tribunal is right in extending deposit insurance scheme as an "input service" merely because it is mandatory and without deposit insurance banks cannot function at all? (v) Whether the Tribunal is right in equating reinsurance service, which is mandatory and which is for insurance, which is a service, with deposit insurance, which, though mandatory, is not linked to any output service or for that....

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....ent of the High Court of Kerala in the case of M/s South Indian Bank (supra). It is further submitted that, in view of the judgments of the High Court of Kerala and the Bombay High Court, the questions of law arising in these appeals ought to be answered in favour of the assessee and against the Revenue. 6. Sri Jeevan J. Neeralgi and Sri Aravind V. Chavan, learned Senior Standing Counsel appearing for the appellants-Revenue, submit that the judgments of the High Courts on the identical issue are pending consideration in appeal before the Supreme Court of India. 6.1 Sri Jeevan J. Neeralgi, learned Senior Standing Counsel, submits that the reliance placed on the judgment of this Court in Commissioner of Central Excise, Bangalore v. PNB ....