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2013 (8) TMI 452 - CESTAT CHENNAIAuthorised Dealer of Foreign Exchange u/s 65 (105) (zm) r.w. ‘other financial services’65 (12) (a) (ix) - Duty demand – Interest and Penalty – Waiver of Pre-deposit - Revenue was of the view that the service was taxable – Held that:- Section 65 (105) (12)(a) as also section 65 (12) (a)(ix) specifies services using the expression ‘services namely’ - Such language gives very little scope for an expansive construction of the items enumerated - One expression used therein was ‘bank guarantee’ - Commercially bank guarantee and Corporate guarantee were two different financial instruments - This interpretation does not render the expression ‘anybody corporate’ used in section 65 (12) redundant because it still had meaning in respect of other sub-clauses at (i), (iii), (iv), (v) etc - corporate guarantee was given in relation a banking and financial service specified at section 65 (12) - the Show cause Notice or adjudication proceedings do not bring out any such case - there was not much merit in the contention of Revenue - the requirement of pre-deposit of dues to be waived and stay its collection till the disposal.
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