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2011 (4) TMI 612 - CESTAT, BANGALOREWaiver of pre-deposit - Appellant had raised FCCBs in the international capital market and the money so raised was invested in Mauritius. - whether the assessee is liable to pay service tax under the reverse charge mechanism in a situation where service provider is outside India - once it is an admitted fact that the money raised were invested outside India, but only because the said money raised is supposedly in relation to the benefit or business of the service recipient, located in India, provisions of Rule 3(3) cannot be invoked - appellant has made out a prima-facie case for the waiver of the pre-deposit of the amounts involved as it is on record that the services which were rendered by the service provider was outside India and for consumption outside India - Decided in favour of the assessee
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