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2010 (1) TMI 362 - AT - Service TaxCenvat Credit- On scrutiny of the Service tax returns filed for the period October, 2005 to March, 2006, it appeared that to the lower authorities that the appellant had not discharged the Service tax liability within the time specified on which the Service tax is payable. It was also noticed by the authorities that the appellant had availed Service tax credit under Cenvat Credit Rules in respect of the Service tax paid on the various services like Banking & other Financial Services and Business Auxiliary Services, the appellants were directed to show cause as to why the interest was not demanded by them for the delay in payment of Service tax during the period October, 2005 to March, 2006 and why the Cenvat credit to an amount of Rs. 2,27,02,809/- be not disallowed as inadmissible credit. Held that- the appellants have not violated any provisions of the Cenvat Credit Rules and have been trying to substantiate their claim of eligibility to Cenvat Credit by producing the certificate of statutory auditors as regards the correctness of the Cenvat credit availed. In view of this, we set aside the penalty imposed on the appellant.
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