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TMI Blog2014 (2) TMI 668X X X X Extracts X X X X X X X X Extracts X X X X ..... d:- 12-3-2013 - Mr. M.V. Ravindran and Mr. H.K. Thakur, JJ. For the Appellant: Shri Paritosh Gupta, Advocate For the Respondent : Shri H.G. Mathew, A.R. ORDER Per : Mr. M.V. Ravindaran; This stay petition is filed for the waiver of pre-deposit of service tax of Rs. 29,18,176/-, interest thereof and equal amount of penalty under Section 78 of the Finance Act, 1994. 2. The ab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t includable for discharge of service tax liability. As regards the amount received from the under writers for the IPOs, it is his submission that they are not providing any service to the clients i.e. the companies which issued the IPOs. It is his submission that the service tax liability which has been demanded is also hit by limitation. 4. Learned Superintendent (A.R.) would submit that in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on on public issue received from the under-writers, the issue is debatable one and needs to be considered from various angles, which can be done only at the time of final disposal of appeal. We find that the appellant needs to be put to some conditions to hear and dispose the appeal. Accordingly, we direct the appellant to deposit an amount of Rs. 1,50,000/- (Rupees one lakh fifty thousand only) w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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