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2015 (10) TMI 1329 - CESTAT CHENNAI

2015 (10) TMI 1329 - CESTAT CHENNAI - TMI - Denial of Input service credit - Credit on the basis of debit notes - Availing of the banker's service in the business world is inevitable. Therefore, banking and financial services provided to the appellant through a guarantor may not be ruled out. Usually when guarantee is provided that has always been supported by a guarantor. It was left open to examine by the authorities below from the banker to ascertain the amount of service tax involved. Withou .....

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with the banker. That Uniply Industries stood as guarantor for the appellant and issued a debit note to the appellant to meet the cost of the guarantee service. He therefore submits that this being attributable to the business, there should not be denial of input service credit. 2. Both the authorities below did not appreciate such factual aspect. However, entire amount of CENVAT credit disallowed was deposited during pendency of the appeal before learned Commissioner (Appeals). 3. Revenue suppo .....

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