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2016 (6) TMI 237 - AT - Service TaxDemand of Service tax prior to 06.11.2006 - Commission received from various financial institutions - Held that:- the similar issue was decided by the Apex Court in the case of Jaiprakash Inds. Ltd. vs. CCE [2002 (11) TMI 92 - SUPREME COURT OF INDIA] and Suchitra components vs. CCE [2007 (1) TMI 4 - SUPREME COURT OF INDIA]. Therefore, we are of the view that First Appellate Authority has correctly followed the ratio of the Apex Court and the Board circular and confirms the demand post 06.11.2006 in respect of the commission received from financial institutions and in respect of the demand of service tax on the profit sharing received AutomartIndia Ltd. We noted that it is recorded in the balance sheet as a profit received from business enterprises undertaken. - Decided against the revenue
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