TMI Blog2010 (7) TMI 597X X X X Extracts X X X X X X X X Extracts X X X X ..... ase on the basis of the circulars issued by the CBEC against the demand and penalty - These services were brought into tax net only in the year 2009, much after the period of dispute - Accordingly decided in the favour of the assessee - ST/359/2010\ - 651/2010 - Dated:- 12-7-2010 - S/Shri M.V. Ravindran, P. Karthikeyan, JJ REPRESENTED BY : Shri M.S. Nagaraja, Advocate, for the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the underwriters, company representatives, their auditors and their Indian Legal advisors; ii. Conducting legal due diligence on the company; iii. Reviewing and commenting on and drafting portions of the prospectus and drafting the international wrap; iv. Advising on publicity and research issues; v. Drafting and negotiating the comfort letter with the auditors on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not taxable at that time. In para 7 of the said circular, CBEC had communicated for guidance of the field officers advice received from the IIM, Ahmedabad on management of an organization. As per the advice received, management invariably involves designing organizational structure around functions such as marketing, manufacturing, research and development and finance and/or business area such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce Minister had already clarified the position on the floor of the Parliament. It was pertinent to note that the Empowered Committee of State Finance Ministers had included legal service in the list of services which were not being taxed at that time. Ld. Counsel submits that the proposal to bring legal service under the tax net was implemented vide the Finance Act, 2009 w.e.f. 7-7-2009. 4. Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
