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2013 (9) TMI 862 - AT - Service TaxValuation - Stock broking services and banking and financial servicee - Section 67(1A) - Whether an independent analysis of Section 67 as it now stands, should be made de hors Tribunals decision in LSE Securities Ltd. (supra), for the period subsequent to 18.4.06 or Section 67 should be considered as having been not altered in view of incorporation of Explanation 1 in Rule 6 of the 2006 Rules, is more appropriately to be considered at the final hearing of the appeal. - Held that:- The valuation provision incorporated in section 67 of the Act envisaged that aggregate of commission or brokerage only shall be measure of tax. Basis of taxation was provided in express terms and no implied taxation was permitted by law. - Provision of section 67 provides the basis to determine the value of taxable service. No receipt other than commission or brokerage made by a stock broker is intended to be brought to the ambit of assessable value of service provided by stock broker. Charging section in a taxing statute is to be construed strictly - Following decision of LSE Securities Ltd. vs. C.C.E., Ludhiana [2012 (6) TMI 364 - CESTAT, New Delhi] - prima facie case is in favor of assessee - stay granted.
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