2009 (5) TMI 153

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..... aw water pond. According to the appellants, the said construction would not amount to ‘Construction and Industrial Service’ - Moreover the appellants had already discharged the substantial part of demand - It is pointed out that the Cenvat credit inadvertently taken has already been reversed, hence there is no justification of denying the benefit of the Notification. No. 1/2006-S.T., dated 1-3-200 .....

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..... rate of 2% of such tax, per month whichever is higher from 18-4-2006 till the date of actual payment of the outstanding amount of service tax, under Section 76 of the Act; (v) Penalty of Rs. 1000/- under Section 77 of the Finance Act, 1944. 2. Heard both the sides in the matter. 3. The issue relates to availment of Notification No. 1/2006-S.T., dated 1-3-2006 which provides for abatemen .....

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..... truction and Industrial Service'. Moreover the appellants had already discharged the service tax liability to the tune of Rs. 1,56,26,893/-. It is pointed out that the Cenvat credit inadvertently taken has already been reversed, in view of the various judicial decisions, the reversal would amount to not taking the credit at all. Hence there is no justification of denying the benefit of the said No .....

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