TMI Blog2020 (10) TMI 909X X X X Extracts X X X X X X X X Extracts X X X X ..... d service was highly debatable and there were conflicting views by different benches of the Tribunal. For resolving the dispute, the Larger Bench was constituted. In the case of South Indian Bank Vs. Commissioner of Customs, Central Excise Service Tax, Calicut, the Larger Bench of the Tribunal [ 2020 (6) TMI 278 - CESTAT BANGALORE ] has answered the reference holding that The insurance servic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nst the impugned order dated 29.06.2016 passed by the Ld. Commissioner of Service Tax-I, Mumbai, wherein service tax demand of ₹ 2,06,91,311/- was confirmed along with interest and ₹ 20,69,131/- was imposed as penalty. Revenue has assailed the impugned order dated 27.06.2018 passed by the Ld. Commissioner of Central Tax (Appeals-I), Mumbai, whereby the adjudged demands confirmed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sit Insurance Service provided by DICGC, considering the same as input service, defined under Rule 2(l) of the Cenvat Credit Rules, 2004. Availment of Cenvat Credit was disputed by the department inter alia, on the ground that such services have no nexus or connectivity with the actual performance of the banking service provided by the assessee-appellant. 4. We find that the issue with regard t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nch, the issue arising out of the present dispute regarding availment of the Cenvat credit on Deposit Insurance Service provided by DICGC is no more res integara. Therefore, the appeal filed by the appellant is allowed by setting aside the impugned order and the appeal filed by Revenue is dismissed. (Operative part of the order pronounced in the open court) - - TaxTMI - TMITax - Service Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
