TMI Blog2008 (8) TMI 144X X X X Extracts X X X X X X X X Extracts X X X X ..... Member (Judicial) and Shri T.K. Jayaraman, Member (Technical) (Final Order No. 1063/2008 dt. 28.8.2008 certified on 1.10.2008 in Appeal No. ST/206/2007) Shri G. Natarajan, Adv. for Appellant. Smt. Sudha Koka, SDR, for Respondent. [Order per Dr. S.L. Peeran Member (Judicial)] - This appeal arises from Order-in-Appeal No. 19/2007/ST dated 27.02.2007 confirming Service Tax demand of Rs. 8,74,074/- along with interest and penalty of Rs. 500/- on M/s. K.R. Alloys Ltd. The short facts are that the appellants merely arranged for the acquisition of 75% of shares of M/s. Akshay Ispat Ferro Alloys (P) Ltd., by one Shri S.K. Rataria. The Revenue has proceeded to consider such activity to fall within the ambit of 'Management Consult ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement consultant'. However, those agencies providing services as per the requirement of any statute or regulation such as Takeover Regulations of SEBI and, if their role is limited to the compliance of such act or regulations and not governed by any contractual relationship with the advisee company, then such services will not be covered under the scope of "management consultant". 2. The learned Counsel submits that even in terms of this Board's clarificatory Circular, this activity does not come within the ambit of Management Consultant which covers various functions and the multifarious activities required for efficient and effective functioning of an organization, any advisory services rendered in merger and acquisition transaction a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... within the ambit of Management Consultant as per its definition. The definition itself clarifies that the activity should be done by a management consultant and it should be in connection with the management of any organisation in any manner. The appellant has not carried out any activity of management consultant in connection with the management of any organization in any manner. The Commissioner has relied on the Board's Circular which clarifies the activity of management consultant, who renders services in an advisory capacity in respect of merger and acquisition transaction. Such an activity has not been done by the appellant. Even para 11 of the clarificatory Circular states that such an activity of merger and acquisition transaction ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
