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2018 (2) TMI 1184 - AT - Service TaxValuation - includibility - transaction charges - Stock Broking Service - Held that: - It cannot be nobodys case that the transaction charges are charged by the appellants on the clients. It is evident that these charges are required to be paid by the clients only to the stock exchange for the transactions in shares or stocks that they may have entered into on their own or through the stock brokers like the appellant herein. Merely because the appellants are collecting the said charges from their clients and remitting the same to the concerned stock exchange cannot be a reason for considering such amounts as received by them for services rendered by them. In the case of First Securities Pvt. Ltd. [2007 (6) TMI 33 - CESTAT, BANGALORE] the Tribunal has held that handling charges collected from investors and the amounts collected towards transaction charges cannot be equated to brokerage or commission for purchase of securities. Appeal allowed - decided in favor of appellant.
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