Transaction of Share Sale cannot be considered as an Activity Promoting Business of Purchaser of shares: CESTAT sets aside Service Tax Demand under BAS [Read Order]
The CESTAT modified the impugned order to the extent of setting aside the demand, interest and penalties imposed under Business Auxiliary Services
In a recent case, the Chennai bench of the Customs, Excise And Service Tax Appellate Tribunal ( CESTAT ) held that the transaction of sale of shares cannot be considered as an activity promoting the business of the purchaser of shares and set aside the service tax demand under Business auxiliary service ( BAS )….
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