2012 (4) TMI 381

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..... is filed for waiver of Service Tax of Rs.40,79,590/-, interest thereof and equivalent amount of penalty. Besides, interest of Rs.4,483/- for delayed payment, and penalty of Rs.5,000/- under Section 77 have also been imposed.   2. The above said amounts have been confirmed by the adjudicating authority and upheld by first appellate authority as Service Tax liability on the ground that they h .....

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..... s his submission that they have produced a Chartered Accountant s certificate giving various details before lower authorities to indicate that the entire amount as indicated in the balance sheet as an income has not come from the services rendered by them but could be loan and other income. It is his submission that both the lower authorities have not considered these submissions in proper perspec .....

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..... be totally out of the income as a recovery agent is borne out from the Chartered Accountant s certificate and adjudicating authority has recorded the same in the submissions made by assessee. It is also seen that the adjudicating authority has recorded that the appellant has produced a Chartered Accountant s certificate. Suffice to say that the adjudicating authority should have given a finding o .....

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