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2023 (11) TMI 890 - CESTAT NEW DELHILevy of Service Tax - act of providing corporate guarantees to the subsidiary units for grant of loan from financial institutions without any consideration - HELD THAT:- It is not in dispute that such corporate guarantees were provided by the appellant without any consideration. This is also clear from the show cause notice dated October 18, 2016 which, in paragraph 5.6, also mentions that since no commission or interest or fee was charged by the appellant from the associate enterprises for providing corporate guarantee, the amount corresponding to the commission received by banks has been taken into consideration. The Commissioner (Appeals) relying upon the decision of the Delhi High Court in DELHI CHIT FUND ASSOCIATION VERSUS UNION OF INDIA AND ANOTHER [2013 (4) TMI 630 - DELHI HIGH COURT] as confirmed by the Supreme Court in UNION OF INDIA VERSUS DELHI CHIT FUND ASSOCIATION [2014 (3) TMI 306 - SC ORDER], has allowed the appeal filed by the respondent. In view of the decision of the Supreme Court and in view of the decisions relied upon by the Commissioner (Appeals) in the impugned order, this appeal would have to be dismissed and is dismissed.
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