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2016 (2) TMI 940 - AT - Service TaxWaiver of pre-deposit - exempted services as per the provisions of Rule 6(3) of Cenvat Credit Rules, 2004 - Banking and Financial Services - non-maintenance of separate books of accounts for taxable and exempted services - Held that: - there is no justification in the confirmation of demand with interest and penalties for the reason that the services rendered by the appellant are not exempted by Notification 29/2004-ST. The said Notification only excludes the value of the amount received by the appellant towards the interest of over-draft facility and cash credit facility. Learned Counsel was correct in pointing out to us that the issue may be covered by the judgement of the Tribunal in the case of M/s Vaidyanath Urban Co-operative Bank Ltd. Versus Commissioner of Central Excise, Aurangabad [2015 (11) TMI 952 - CESTAT MUMBAI] for the purpose of stay and we find it so. Accordingly, the application for waiver of pre-deposit of the amount involved is allowed and the recovery thereof is stayed till the disposal of appeal.
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