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2011 (9) TMI 826 - CESTAT, NEW DELHIBusiness Auxiliary Service - sub-broker - stock broker/sub-broker – Held that:- their activity cannot be said to be Business Auxiliary Service provided to the main broker. Since, the appellant have to be treated as a broker and the service provided by them is service of stock broker in connection with sale or purchase of securities listed on stock exchange for their clients and since during the period of dispute, it is the main broker who was issuing the transaction note and was receiving the commission from the client, a part of which was received by the appellant as a sub-broker, the question as to whether the part of brokerage received by the appellant as sub-broker from the main broker would attract service tax has to be answered in the light of the judgment on this issue in the case of Vijay Sharma & Co. (2010 - TMI - 78818 - CESTAT, NEW DELHI - Service Tax). - Matter remanded back.
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