9911796707
TMI Blog2014 (8) TMI 298X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent : Mr. Ganesh Haavanur, A.R. PER : B S Murthy Even though the matter has been listed only for considering the stay application and requirement of waiver of pre-deposit, after hearing both sides, we found that the matter can be finally decided at this stage itself. Since both sides had no objection, requirement of predeposit is waived and matter is taken up for final decision. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . He submits that in paragraph 4 of Circular No. 120(a)/2/ 2010-S.T. dated 16.4.2010, it has been stated that 'In fact, it is the reinsurer which provides insurance service to the insurance company.' In view of the above, he submits that availment of CENVAT credit by the appellant is in order. 4. The learned A.R. would reiterate the arguments advanced by the learned Commissioner in the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e premium collected from the persons who are insured with insurer and it is basically transfer of a portion of the risk and therefore it can be definitely said that the reinsurer is providing the service to the insurance company when he accepts to reinsure a portion of the insurance undertaken by the insurer. Therefore, we consider that the impugned order cannot be sustained on merits. Accordingly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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