TMI Blog2015 (11) TMI 1260X X X X Extracts X X X X X X X X Extracts X X X X ..... hip between the applicant and the foreign bank or intermediary. As such we find full waiver of demanded service tax and penalties is justified in this case. Accordingly we order the stay of recovery of tax amount along with penalties in this case till disposal of the appeal. - Stay granted. - Stay Application No. 54074 of 2014, Service Tax Appeal No. 53643 of 2014 - - - Dated:- 13-10-2015 - G. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e intermediary bank or foreign bank deducts an amount on its end and remits the balance amount to applicant's bank. Proceedings were initiated against the applicant to demand service tax on this deducted transaction charges under 'Banking other Financial Services' on reverse charge basis. 3. The original order and the impugned appellate order confirmed the demand along with penalt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plicant's counsel also relied on ratio elaborated in Board's Circulars dated 10.7.12 and 14.10.14 on similar transactions. 5. Having heard the ld. Counsel for the applicant and the ld. A.R. we are of the opinion that the applicant had made out a strong case for full waiver of pre-deposit. The sequence of transactions involved in transfer of money in this case indicate the absence servic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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