R.S. GUPTA AND COMPANY Vs. CCE

JUDGEMENT

(1.) AFTER hearing both sides, it is seen that service tax of Rs. 77,682/ - stands confirmed against the Appellants for the period 14.5.2003 to 31.12.2003 by treating the services being provided by them as sub broker of M/S. JSEL Securities Ltd., a share broker. The learned Advocate submitted as Appellant company was covered under the definition of stock broker services, only after the amendment form 10.9.2004 and inasmuch as the period involved in the present appeal is prior to the said date, No. tax liability can be fastened against the Appellant

(2.) WE find that the issue is No. more res integra stands settled by the Larger Bench of the Tribunal in the case of Vijay Sharma & Company v. CCE, Chandigarh reported in : 2010 (20) STR 309 (Tri. -LB) wherein it is held that the services provided by the sub broker in connection with the sale or purchase of securities listed in recognised stock exchange shall be taxable service with effect from 10.9.2004, when the definition of the stock broker, as per Section 65 (101) of Finance Act, 1994 was amended. Inasmuch as the issue is settled, we aside the impugned order and allow the appeal with consequential relief to the Appellants.