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2015 (7) TMI 884 - AT - Service TaxWaiver of pre deposit - Cenvat Credit - Trading activity - Held that:- Appellant is rendering both taxable output service and is also undertaking trading activity and trading became an exempted service only after 1.4.2011 (deemed). Therefore during the relevant period, the appellant was required to reverse the proportionate credit since trading activity was not a service and credit could have been taken but separate account was not required to be maintained. Therefore, I find that appellant cannot be said to have a prima facie case in their favour - Partial stay granted.
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