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2017 (7) TMI 62 - CESTAT ALLAHABADExport of service - 100% EOU - Penalty - Held that: - the appellant is not a subcontractor, but a co-venture along with JBL in executing the research and development assignments for clients like Eli Lilly and Company Ltd, USA situated outside India. We are further satisfied that the appellant have exported their services under the agreements, and also received payments in convertible foreign exchange through the EEFC account operated by JBL, as the lead venture - We also take notice of the certificate of chartered accountants, annexed in the paper book, which was also before the court below, which certifies that during the period in question, the affairs of the appellant have been verified and examined the payments made by Jubilant Biosys Limited to Jubilant Chemsys Ltd for its share of activities under the work orders received from the parties located outside India - the appellant have satisfied both the conditions for export of service, namely rendering of service from India and receipt of the service by the client outside India of consideration in convertible foreign currency in India - Decided in favor of the assessee.
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