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2013 (10) TMI 914 - CESTAT NEW DELHIService tax liability - Banking and financial services - reverse charge - Held that:- appellant had paid no commission to the foreign banks for receiving banking and financial services but had made payments only to an Indian bank. Prima facie, there was no material on record before the adjudicating authority to legitimise such an inference - waiver of pre-deposit and stay of all further proceedings pursuant to the adjudication order as confirmed by the order of the Commissioner (Appeals) is granted, on condition that the appellant remits the assessed tax component plus interest thereon as due, within 6 weeks from today and reports compliance by 26-09-2013. - stay granted in respect of penalty.
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