9911796707
TMI Blog2012 (7) TMI 778X X X X Extracts X X X X X X X X Extracts X X X X ..... d that:- Circular no. 1/1/2001-ST dated 27.06.2001 issued in exercise of the powers vested in the Board Section 37B to ensure that there is uniformity in the classification of excisable goods in this case service tax - the appellant have made out a case to show that the appellants had a bona fide belief that the services rendered by them were not taxable prior to 16.07.2001 thus,pre-deposit is req ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso been imposed. Out of the demand of more than Rs. 2.65 crores an amount of Rs.2,46,36,484/- relates to advisory fees for merchant banking service provided by the appellants. 3. The learned Counsel for the appellant submitted that service tax has been demanded on these services on the ground that these services are to be categorized under Management Consultancy Service' and therefore liable t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... examine whether there is a prima facie for waiver of pre-deposit and grant of stay. This is because not only a number of services are involved, but the issues are also complicated and required detailed consideration which can be done only at the time of final hearing. 5. We take note of the fact that a Circular was issued by the Board vide Circular no. 1/1/2001-ST dated 27.06.2001. This was a Ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... em the classification of these services, would show that there was a divergence in practice and the Board felt that there was a need for issue of a Circular under Section 37B of the Central Excise Act, 1944. For ready reference, Section 37B is reproduced below. 37B. Instructions to Central Excise Officers.- The Central Board of Excise and Customs constituted under the Central Boards of Revenu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lants had a bona fide belief that the services rendered by them were not taxable prior to 16.07.2001. Since this would also require a detailed consideration of law and facts to examine whether this prima facie view is correct or not, we consider it appropriate that, at this stage, in the interest of justice, pre-deposit is required to be waived and stay against recovery of the dues during the pend ..... X X X X Extracts X X X X X X X X Extracts X X X X
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