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2018 (4) TMI 728 - AT - Service TaxLiability of service tax - services availed for mobilizing finance by using services of foreign company - transaction covered by IFC Act, 1958 - Held that: - identical issue decided in appellant own case M/s Petronet LNG Limited Versus CCE, New Delhi [2017 (3) TMI 120 - CESTAT NEW DELHI], where it was held that the IFC Act 1958 clearly provides for immunity of all transactions and operations of IFC - tax liability do not sustain. Penalty - Held that: - the disputed amount was paid immediately after the notice and the same was appropriated in the impugned order - penalty not sustainable. Appeal allowed.
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