TMI Blog2013 (10) TMI 203X X X X Extracts X X X X X X X X Extracts X X X X ..... ble service during the relevant period (prior to 16.8.02) under Section 65(105)(zm) is specified to being a service provided or to be provided to a customer by a banking company or a financial company including a non-banking financial company in relation to banking and other financial services. The entity liable to service tax levy under Section 65 (105) (zm) is therefore a banking company or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder No. 59000/2013 - Dated:- 30-8-2013 - Mr. G. Raghuram and Mr. Sahab Singh, JJ. For the Appellant : Shri B.L. Narasimhan, Advocate For the Respondent : Shri Govind Dixit, A.R. ORDER Per Justice G. Raghuram: Waiver of pre-deposit and stay all further proceedings for realisation of adjudicated liability pursuant to the adjudication order dated 31.1.2013 passed by the Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e notice dated 22.10.07 was issued. 3. In response to thereto, the petitioner in its reply dated 22.11.07 contended that the taxable value alleged to have escaped collection was not income received under the taxable service provided. The core contention of the petitioner was that prior to 16.8.02 [vide amendment to Section 65(10) of Chapter V the Finance Act 1994 as amended by Finance Act 2001], ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t out in 65(12) of the Act, in sub-clause (a)(i) specified financial leasing services including equipment leasing and hirepurchase by a body corporate to constitute banking and other financial services. 5. Prima facie, the adjudicating authority appears to have clearly erred in failing to comprehend that the taxable service during the relevant period (prior to 16.8.02) under Section 65(105)(zm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gral to the liability to tax is prima facie absent in the present case as the petitioners claim to not being either a banking company, a financial company or even a non-banking financial company during the relevant period i.e. prior to 16.8.02 , is not disputed. 4. On the above prima facie analysis, we are inclined to grant waiver of pre-deposit in full and stay all further proceedings pursuant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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