Mutual Fund trading is different from redemption of MF units

Ace Creative Learning Pvt. Ltd. Vs Commissioner of Central Tax (CESTAT Bangalore) Appellant is providing Commercial Training and Coaching Services and they have also invested in the mutual funds and have earned profit during the year 2014-15, 2015-16 & 2016-17 which they have shown as under the head ‘other income’. The Department has wrongly considered the investment in mutual fund as trading in mutual funds and has issued a notice on the presumption that the appellant is providing exempted services which is trading in mutual funds and has not maintained separate records for co...