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2011 (6) TMI 359 - AT - Service Tax


The Appellate Tribunal CESTAT, Chennai heard an application for waiver of pre-deposit of service tax and cess on profit earned from foreign exchange transactions by a bank. The demands were confirmed under Section 65(12) of the Finance Act, 1994. The Tribunal waived the pre-deposit based on a prima facie case made by the assessees, citing Circular No.92/3/2007-ST and a previous Tribunal's stay order. Recovery of the amounts in dispute was stayed pending the appeal. (Operative portion of the order pronounced on 20.06.2011)

 

 

 

 

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