TMI Blog2014 (10) TMI 29X X X X Extracts X X X X X X X X Extracts X X X X ..... peculiar facts and circumstances of the case, when the Appellant, though not providing the banking/financial services, were registered as provider of banking service since 2004, they should be treated as registered as ISD also, as they were for all practical purposes, functioning as input service distributor and the availment of service tax credit and its distribution to various branches by issue of invoices were being reflected in the ST-3 returns being filed by them, which is what a registered Input Service Distributor would have done. Appellant could take the Cenvat credit and distribute the same by issuing invoices to their branches. The impugned order is, therefore, not sustainable - Decided in favour of assessee. - ST/2765/2012 - Fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the name of Zonal office and distributed the same to various branches by issuing the invoices. The Department issued a show cause notice to the appellant for recovery of this credit on the ground that when the appellant were not registered as input service distributor, they could not have taken the credit and distributed the same by issuing invoices to their branches. Subsequently, the Assistant Commissioner confirmed the Cenvat credit demand and imposed of equal amount. On appeal being filed by the appellant, this order of the Assistant Commissioner was upheld by the Commissioner (Appeals). Hence this appeal has been filed before this Tribunal. 2. Heard both sides. 3. Shri Ankur Jain, ld. Counsel for the appellant, pleaded that the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the records. There is no dispute that the appellant are the Zonal Audit Head office of Punjab National Bank and though they are registered in respect of banking services since October 2004, they were actually responsible only for audit of the records of the Branches of PNB within their jurisdiction and it is the branches which were providing banking services and were individually registered for service tax payment. There is no dispute that the Appellant as Zonal Audit Office were not providing banking/financial services. The point of dispute is as to whether in this factual background, the appellant as Zonal Audit Office of PNB could take Cenvat credit on the basis of invoices issued in their name and distribute the same to the branches ..... X X X X Extracts X X X X X X X X Extracts X X X X
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