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TMI Blog2013 (11) TMI 866X X X X Extracts X X X X X X X X Extracts X X X X ..... P.PAL, A.R.(APPRAISER) ORDER Per Dr. D. M. Misra; This is an Application seeking waiver of preposit of Service Tax of Rs.1.14 crore and equal amount of penalty imposed under Section 78 and Rule 15 of the CENVAT Credit Rules, 2004 and penalties imposed under other provisions of the Finance Act, 1994. 2. At the outset, ld. Advocate, Shri M.L. Gupta for the Applicant submitted that out of the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le Delhi High Court in the case of Inter-Continental Consultants & Technocrafts Pvt. Ltd. vs. UOI, 2013(29)STR 9(Del.), has declared Rule 5 of the Valuation Rules as ultra vires Sections 66 and 67 of the Finance Act, 1994. 3. Heard the ld. AR for the Revenue. The ld. AR reiterated the findings of the Commissioner. The ld. AR could not produce any decision contrary to the judgments of the Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ). Accordingly, the Applicant could able to make out a case for total waiver of predeposit of the said amount of Rs.55,22,860/-. On the other hand, prima facie, we find that the laid-down procedure has not been followed by the Applicant in availing CENVAT Credit on the input invoices raised in the name of Head Office. Accordingly, we direct them to deposit 10% of the CENVAT Credit of Rs.54,40,876/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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