TMI Blog2015 (11) TMI 952X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority at the time of passing of the impugned order and rulings were pronounced subsequently. In this view of matter and after recording the finding that the appellant’s case are covered by these two rulings, I remand the matter back to the adjudicating authority with a direction to verify the amount of CENVAT Credit reversed. If the same is found to be short then the appellant may be allowed an opportunity to reverse the amount alongwith interest. It is also held that the Banking and other Financial Service, which are the output service of the appellant are not fully exempted and accordingly, do not fall under the category of exempt service as defined under Rule 2(e) of the Cenvat Credit Rules, 2004. - Matter remanded back - Decided in f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant had carried the matter before the Commissioner (Appeals). The appellant had raised the ground that it had reversed the total amount of CENVAT Credit availed for the common input service along with interest and the same was repaid by challan, a copy of which is annexed at page 27 of the appeal memorandum. This contention also find reference in para 11.2 of the Order-in-Original. In this view of the matter, the whole input service credit was reversed relating to common input service. Therefore, there was no question of any tax payable under Rule 6(3) of the Cenvat Credit Rules, 2004. The learned Commissioner (Appeals) confirmed the demand alongwith penalty and interest relying on the ruling of the Hon'ble Bombay High Court in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014 wherein relying on the ruling of the Jost s Engineering (supra) in similar circumstances taking into consideration the reversal of whole of the credit of common input service, proper relief was allowed. The appellant also strongly contends that in view of the definition of Exempt Service, they do not fall under this provision of Rule 6(3). 3. The learned AR relies on the impugned order, but does not dispute the rulings relied upon by the Counsel for the appellant. 4. Having considered the rival contention, I take up the appeal itself for final disposal. 5. Considering that the issue is full covered by Jost s Engineering (supra) and in the case of Nagar Urban Co-operative Bank Ltd. (supra), I find that the appellant s case is s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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