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2014 (5) TMI 218 - HC - Service TaxDenial of CENVAT credit on stockbroker's service - 'Input service under Rule 2(l) of CCR, 2004 - stockbroker's service used for the purpose of disposal of the shares held in another company – Held that:- on a perusal of even the main objects and objects incidental or ancillary to the attainment of main objects of the appellant, it is not that the assessee is carrying only the main objects and not the incidental objects as in sub-para 8 of Part B. But the question whether the incidental object of investing and dealing in shares would in any way relate to and form part of the main business of the assessee has been answered by the authorities in the negative. The fact remains the incidental business which finds mention in para-8 is not being actually carried on and a categorical finding is given by all the authorities in that regard. Therefore, we are of the opinion that the claim for input service credit is not against any liability arising out of the business activity of the assessee and not relatable to the business activity of the assessee and therefore, we find that there is no scope for interfering with the order of the Tribunal - Decided against assessee.
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