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2016 (11) TMI 647 - AT - Service TaxDemand - services of financing, merger and acquisition - whether taxable under the head of Management Consultancy Services? - time bar - suppression of facts - Held that: - the show cause notice was issued on 10/4/2006 invoking extended period. At the time of issuance of show cause notice, unamended provisions of Section 73(a) existed prior to 10/9/2000 was not existing, therefore unamended Section 73(a) is not invokable in the present case. If this is so then the appeal of the Revenue which solely on the basis of this ground does not survive. As per amended provision of Section 73, extended period can be invoked only when there is suppression of facts. In the present case even in the Revenue’s appeal there is no charge of suppression of facts and infact respondent informed the department about their service activity of merger and acquisition therefore extended period was not invokable, the Ld. Commissioner(Appeals) has rightly dropped the demand on limitation. As regard the merit of the case, we find that services undisputedly are of financing, merger and acquisition, these services were specifically brought in the definition of banking and financial services w.e.f. 16/7/2001 therefore during the period 1999-2000 these services were not taxable in other heads. Appeal dismissed - decided against Revenue.
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