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2011 (6) TMI 359 - CESTAT, CHENNAIWaiver of pre-deposit - Banking and Other Financial Services - profit earned from the Foreign Department of the bank at Calcutta for foreign exchange transactions during the period 2004-05 to 2006-07 - Held that:- In the light of Circular No.92/3/2007-ST, dated 12.03.2007 and in the light of the Tribunal's stay order in State Bank of Bikaner & Jaipur Vs Commissioner of Central Excise , Jaipur-I [2009 (5) TMI 826 - CESTAT NEW DELHI] holding that prima facie profit earned on foreign exchange is not liable to service tax - Therefore, waive pre-deposit of the amounts in dispute and stay recovery thereof pending the appeal.
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