9911796707
TMI Blog2013 (7) TMI 459X X X X Extracts X X X X X X X X Extracts X X X X ..... ation - relying upon the judgement of HSBC Securities & Capital Markets (I) Pvt. Ltd. vs. Commissioner of Service Tax,(2008 (6) TMI 159 - CESTAT MUMBAI). Waiver of pre deposit – strong case in the favour of the assessee – requirement of pre deposit waived – stay granted – appeal decided in the favour of the assessee. - ST/57/2012 - S/63/13/CSTB/C-I - Dated:- 19-11-2012 - P R Chandrasekharan And Anil Choudhary, JJ. For the Appellant : Mr R G Sheth, Adv. For the Respondent : Mr A Shah, Addl. Commissioner (AR) Per: P R Chandrasekharan: The appeal and stay application are directed against the Order-in-Original No. 72/BR-72/ST/Th-I/2011 dated 31/10/2011 passed by the Commissioner of Central Excise, Thane-I Commissionerate. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w cause notice and, therefore, the demand is time barred. Secondly, he submits that when the credit rating agency services were brought under the tax net, it was clarified by the Board vide Circular No. B-11/3/98-TRU dated 07/10/1998 that information and advisory services, if any, rendered by credit rating agency would not attract service tax for the reason that a taxable service in respect of a credit rating agency means service provided to a client only in relation to credit rating of any financial obligation, instrument or security . Therefore, they were under the bona fide belief that they were not required to pay any service tax on the information/advisory services rendered by them. The ld. counsel also submits that management consul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner of Service Tax, Mumbai 2009 (13) STR 62 in support of his contention. 4. Learned AR appearing for the Revenue reiterates the findings of the lower authorities. 5. We have carefully considered the rival submissions. There is no dispute of the fact that w.e.f. 16/08/2002, the appellant has been paying service tax on the advisory services under the category of Banking and Other Financial Services' and the department has accepted the same. That being so, we do not know how for the previous period the department can demand service tax on the very same activity under the category of Management Consultancy Services'. Further, this Tribunal in the case of HSBC Securities Capital Markets (I) Pvt. Ltd. (cited supra) held that advisory ..... X X X X Extracts X X X X X X X X Extracts X X X X
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