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2017 (7) TMI 993 - CESTAT CHENNAIBusiness Auxiliary Services - mobilization of deposits/debentures, delivering deposits/debenture receipts, and providing other incidental services - whether the activities carried out by the appellant would fall under the scope of BAS under Section 65 (19) of the Finance Act, 1994 as it stood prior to 10.09.2004 before its amendment? - Held that: - it is seen that the adjudicating authority has found that the appellant accepted application forms from investors applied for debentures/deposits of their client and in a fiduciary capacity on behalf of those companies in handling the applications from the investors; that they have to coordinate with these companies in the advertisement, canvassing and that they have to identify prospective customers for lending based on predetermined criteria. Time limitation - Held that: - It has to be seen that appellants were discharging service tax under Banking and Financial Services and were filing regular returns - It is correct that there was confusion prior to 10.09.2004 as to whether all the services rendered on behalf of client would fall under BAS - when the appellant has written letter dated 29.10.2004 immediately, the fact has come to the knowledge of department and therefore in our view the SCN dated 02.05.2006 is time barred. Appeal allowed - decided in favor of appellant.
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