2013 (11) TMI 603

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..... appellant abroad and they were subscribed by the individuals or the institutions abroad. In order to receive and deploy the amounts floated under the Bonds, appellants had directed by the bankers over there to open an account and receive the amount and deploy the same. We find prima-facie strong force in the contentions raised by the learned representative that the amounts which were raised abroa .....

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..... s service tax, interest thereof and penalties under various Sections of Finance Act, 1994. 2. Heard both sides and perused the records. 3. Both the lower authorities have held against the assessee for confirming demand on the ground that the assessee appellant herein had paid an amount to the Banks situated abroad as an administration fee for raising loan in foreign currency outside India. The .....

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..... ere subscribed by the individuals or the institutions abroad. In order to receive and deploy the amounts floated under the Bonds, appellants had directed by the bankers over there to open an account and receive the amount and deploy the same. We find prima-facie strong force in the contentions raised by the learned representative that the amounts which were raised abroad, were deployed outside Ind .....

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