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2011 (1) TMI 69 - AT - Service TaxBusiness auxiliary services - respondent is engaged in the mobilising, selling, recommending mutual fund units of various mutual fund houses and also in selling, mobilising recommending investments in bonds issued by banking and non-banking companies - Show Cause Notice was issued to the respondent proposing demand of Service Tax and proposing imposition of penalties - Commissioner dropped the proceedings relying on the decision of the Hon ble High Court of Andhra Pradesh in the case of Karvy Securities Ltd. Vs. Union of India - Commissioner has dropped the proceedings on the ground that the Circular dated 5.11.2003 of the Board which was the basis for issue of Show Cause Notice stands set aside by the Hon ble High Court of Andhra Pradesh – no infirmity in the order of the Commissioner - Appeal by the department, therefore, rejected
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