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2014 (8) TMI 17 - AT - Central ExciseWaiver of pre-deposit - Cenvat credit - input services - selling commission for issue of IPO, Under Writing Commission of IPO, and Brokerage Incentive for IPO - commissioenr (appeals) dismissed the appeals for non-compliance of order of 50% deposit - prima facie case - Held that:- In view of the order passed by this Bench in the case of Aditya Birla Nuvo Ltd (2009 (1) TMI 117 - CESTAT AHMEDABAD) relied upon by the appellant, CENVAT Credit with respect to IPO related services has been held to be admissible. So far as not following of procedure of ISD registration, appellant has relied upon the case laws that substantial benefit cannot be denied on the basis of procedural deficiencies which can be rectified. In view of the case records and the arguments taken by the appellant, there is an arguable case for the appellant regarding admissibility of CENVAT Credit on the services involved. It is, therefore, felt that the pre-deposit amount asked for by the first appellate authority was on the higher side. - Appellant directed to deposit an amount of ₹ 50,000 /- - appeals restored before first appellate authority.
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