TMI Blog2017 (10) TMI 347X X X X Extracts X X X X X X X X Extracts X X X X ..... arantees, Commission of Letter of Credit, Upfront fee, Cheque issue charges, Handling charges for gold coin, Commission on DD, TT, MT, Processing fee, Incidental charges, Locker rent, ABB charges, Exchange Profit received from FEDCO, other charges, Folio charges. Out of this, the exchange profit received from FEDCO may fall under charges received for money changing. This fact has to be verified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Banking and other Financial Services . On scrutiny of accounts, it was found that from September 2004 to April 2006 they have collected service charges for the services provided by them but have not discharged the service tax liability. Further that they had not disclosed the full and complete details of taxable value received in ST-3 return. Show Cause Notice was issued and after due proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it for the first time before Commissioner (Appeals). She pleaded to set aside the penalties also. 3. The Ld.AR Shri.R. Subramanian reiterated the findings in the impugned order. He submitted that the appellant had not raised the plea before the original authority and therefore such plea has been rightly rejected. 4. Heard both sides. 5. The main plea put forward by the appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. The plea being a legal plea and also as per Circular of the Board, the benefit cannot be denied to the assessee. We therefore are of the view that the matter requires to be remanded for considering the applicability of Circular No.92/3/2007-ST dt.12.3.2007 as contended by appellant. 6. The counsel has also pleaded to set aside the penalties. We find both penalties under Section 76 as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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