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TMI Blog2009 (1) TMI 758X X X X Extracts X X X X X X X X Extracts X X X X ..... nt is seeking waiver of pre-deposit of the service tax amount of Rs. 3,06,56,691/- along with interest under Section 75 of the Finance Act, 1994 and equivalent penalty under Section 78, apart from a penalty of Rs. 200/- for every day during the failure to pay the service tax under Section 76 of the Finance Act, 1994. 2. Heard both the sides in the matter. 3. The demand has been confirmed on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for restricting the credit. 5. The learned SDR submits that the applicant had utilized the input credit for discharging the port services and they were also rendering services of income which are not non-taxable. 6. On a careful consideration of the matter, we find that the restriction can be imposed by the Revenue on the applicant to avail 20% of the input credit, will apply in case where t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amounts and staying its recovery till the disposal of the appeal. Stay will continue even after a lapse of 180 days from the date of this order, in terms of the Apex Court judgment rendered in the case of CC CE, Ahmedabad v. Kumar Cotton Mills (P) Ltd. [2005 (180) E.L.T. 434 (S.C.)]. The appeal to come up for final hearing in its turn. (Pronounced and dictated in the open court) - - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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