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2012 (6) TMI 723 - CESTAT, MUMBAIPlea for waiver of pre-deposit - Banking and Financial Services - assessee alleged of not discharging tax liability on import of service on the basis of transactions entered into with ADB and IFC - payments made towards commitment charges, up-front fee, arrangement fee, agency fee and out of pocket expenses paid to ADB and IFC in respect of funds borrowed from aforesaid institutions - Held that:- Since issue involves interpretation of various provisions of law such as Article 246, 253 of the Constitution of India, the various provisions of ADB and IFC Act and the provisions of United Nations (Privileges and Immunities) Act, 1947 and Finance Act, 1994. Therefore, appellant has made out a case for 100% waiver of pre-deposit, accordingly, we waive the requirement of pre-deposit of entire amount of service tax, interest and various penalty and recovery thereof stayed during the pendency of the appeal.
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