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2008 (7) TMI 100 - HC - Service TaxBanking and other financial services - Chit Funds not taxable - If govt. wanted to extend the levy to such business, it would have been easier for them to specifically include the same rather than in trying to borrow from different other provisions, which cannot be extended. The entire action on the part of the respondents in trying to extend the levy of the tax for the first time by way of a circular is merely an executive fiat, which is not permissible under the law.
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