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TMI Blog2013 (12) TMI 102X X X X Extracts X X X X X X X X Extracts X X X X ..... greement, the respondents are responsible for safeguarding the building of the bank along with the fixtures, fittings and equipments, cash, other securities etc. Therefore, it cannot be said that the respondents are providing security services in relation to safe deposit lockers or security of safe vaults. In view of this the benefit of notification is not available to the respondents - responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Finance Act and the Notification no. 56/98 provides exemption in respect of services of providing safe deposit lockers or security or safe vaults for security of movable property. In the present case as per the agreement (copy of which is produced by the respondent) the respondent provided security services to the banks. The respondents are responsible for safeguarding the building of the banks ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... blic interest so to do, hereby exempts the taxable service provided by a security agency from the service tax leviable on the gross amount charged from a client in relation to the services of providing safe deposit lockers or security or safe vaults, for security of movable property. 2. This notification shall come into force on the 16 th day of October, 1998." 6. We have gone through the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid failure". In the present case the respondents are registered with the Revenue authorities as service provider and paying appropriate service tax. The issue involved in the appeal is in respect of interpretation of Notification. In view of the provisions of Section 80 of the Finance Act, we waive the imposition of the penalties. 7. The appeal is disposed of as indicated above. (Dictated in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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