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2018 (7) TMI 1951 - CESTAT KOLKATABusiness Auxiliary services - services of promoting sale of goods - agent-principal relationship - demand of service tax - HELD THAT:- The sub-brokers and stock-brokers are agent and principal. Asking the appellants to pay Service Tax shall amount to double taxation since as per the declarations of the mutual fund distributors, the asset management companies have made the payment of commissions to the mutual fund distributors after deduction of Service Tax at source. Revenue has not suffered any loss due to discharge of tax liability by the asset management companies. There shall be no levy of tax on the present appellants. Appeal allowed - decided in favor of appellant.
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