Commission received by an insurance agent was taxable as fee for business auxiliary service

No Comments

Where assessee acted as an agent of ICICI Prudential Life Insurance Limited and ICICI Housing Finance Limited and for service rendered received commission, said service would fall under category of ‘Business auxiliary service’.

Section 65(19) of the Finance Act, 1994 – Business auxiliary service – Period 2004-05 and 2005-06 – Assessee acted as an agent of ICICI Prudential Life Insurance Limited and ICICI Housing Finance Limited and for services rendered received commissionWhether services provided by assessee would fall under category of ‘Business auxiliary service’ – Held, Yes

Citation: [2018] 94 taxmann.com 218 (New Delhi – CESTAT)