TMI Blog2016 (12) TMI 858X X X X Extracts X X X X X X X X Extracts X X X X ..... eligible "input services" for the purposes of Rule 2(l) ibid. The inclusive part of the definition therefore sets out only examples of input services which would fall in the genre of eligible "input services". It also includes services "used in relation to such activities". "Financing" finds a mention in the list of examples given in Rule 2(l). The type and nature of service provided by M/s.MAPE would definitely be services used in relation to financing and financial management of the appellant. This being the case, and considering that financial consultancy/advice is not disbarred otherwise in any of the exclusions in Rule 2(l) ibid, the eligibility of said input services should not be in question. Appeal allowed - decided in favor of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that the services of MAPE were in the nature of Financial Advisory Services to receive financial consultancy/advice on the question of disinvestment of their shares held in M/s. Henkel India Ltd. and M/s.SPIC Electric Power Corporation. He further submits that as per the advice from the MAPE, they disinvested the shares from these companies for a consideration of ₹ 46.82 crores and ₹ 60.73 crores respectively. He submitted an Auditor's Certificate dt. 8.11.2016 from a Chartered Accountant certifying that proceeds from disinvestment were used as working capital for manufacturing operations of the company. He also reiterated the grounds of appeal. Ld. Advocate submits that input services availed on this account are very much ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It also includes services used in relation to such activities . Financing finds a mention in the list of examples given in Rule 2(l). The type and nature of service provided by M/s.MAPE would definitely be services used in relation to financing and financial management of the appellant. This being the case, and considering that financial consultancy/advice is not disbarred otherwise in any of the exclusions in Rule 2(l) ibid, the eligibility of said input services should not be in question. In the circumstances, I am of the considered opinion that the disputed services availed by appellant from M/s.MAPE involving credit amount of ₹ 19,46,527/- for the period October 2011 to September 2012 are very much eligible input services fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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