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2022 (10) TMI 923 - CESTAT NEW DELHILevy of service tax - Investment or Management Service under ULIP - Policy Administration Charges - Front End Load - Switching Charges - amount collected by the appellant – Insurer, from the Policy holders - period 1.7.2010 to 30.04.2011 - barred by time limitation or not - HELD THAT:- The issue is no longer res integra and has been allowed in favour of the Insurance Company under the similar facts and circumstances in the case of M/S SAHARA INDIA LIFE INSURANCE CO. LTD. VERSUS COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX, LUCKNOW (VICE-VERSA) [2018 (5) TMI 1217 - CESTAT ALLAHABAD], wherein by a Coordinate Bench (of which one of us – Member (Judicial) was a Member of the Division Bench), wherein it has been categorically held that prior to 1.5.2011, policy administration charges, etc. are not chargeable to service tax. Further, in view of the clarification by the Board vide TRU Circular No. DOF/334/1/2010 dated 26.02.2010, that such policy administration charges are chargeable to tax under Section 65(105)(zx). Thus, Revenue cannot be permitted to be taken u-turn in the light of the Board’s Circular. Further, Board circular are binding on the officers of the Revenue Department. The ground of limitation is left open - appeal allowed.
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