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Appellant Liable for Service Tax on Guarantees; Demand Limited to Normal Limitation Period, Excess Set Aside.

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....Levy of Service tax - corporate guarantee - The appellant having received consideration against providing guarantee to its related company in the form of ‘corporate guarantee’ and ‘credit protection guarantee’ service is liable to pay service tax and, therefore, demand raised against the appellant is justified - However, demand beyond normal period of limitation set aside - AT....