9911796707
TMI Blog2014 (9) TMI 462X X X X Extracts X X X X X X X X Extracts X X X X ..... that arises for considerations are : M/s Essar Construction (I) Ltd, 12, Swastik Society, Essar House, Jamnagar (hereinafter referred to as the 'Noticee') are holder of Service Tax Registration under Section 69 of the Finance Act , 1994 (32 of 1994) (hereinafter referred to as 'the said act') under the category of 'Goods Transport Agency', 'Construction Service', 'Erection, Commissioning, and Installation Services', 'Business Auxiliary Services' and 'Consulting Services' since 04.09.2006 bearing Number AAACE2358JST007. During course of Audit of records of M/s Essar Projects Ltd for the period from April 2007 to March 2008 it has observed that M/s Essar Projects Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of service tax amounting to Rs. 9,96,14,733/- and thereby contravened the provisions of Section 68 of the Act, read with Rule 6 of the Service Tax Rules, 1994. The Noticee has also rendered himself liable to pay interest as provided under Section 75 of the said act. The Noticee has not obtained the service tax registration at the material time and thereby appears to have violated the provisions of Section 69 of the Finance 1994 read with Rule 4 of the Service Tax Rules, 1994. The Noticee has not assessed the tax due, property, on the services provided by them, as discussed in foregoing paras, and have also not filed any returns during the period from 30.06.2006 to 2007-08 and thereby appears to have violated the provision of Section 70 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing penalty, Adjudicating Authority has erred in demanding the tax, twice over. 5. Ld. Dept. Representative reiterated the findings of the Adjudicating Authority. 6. We have heard both sides and perused the records. 7. On perusal of the records, it transpires that the issue in the current appeal is to decide whether there can be demand of Service Tax in respect of the receipt towards the taxable services rendered earlier, in the business, taken over by the appellant under business transfer agreement. 8. Undisputed facts are appellant have taken over the running business of Essar projects Ltd under business transfer agreement and are eligible to receive the various outstanding of Essar Projects Ltd. One of the outstanding is regarding t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he amount received in consideration of taxable service provided till 30.6.06 by them had been reflected in the Books of account maintained in favour of ECIL (the buyer) in terms and conditions of 'Business Transfer Agreement' dated 15.06.06 for having transferred the said business alongwith its entire liability and assets. In view of the above, it appears that the assessee was neither liable to pay service tax amounting to Rs. 9,96,14,733/- which they had paid during July06 to March '08 as the amount so recovered had been shown in the Books 0f Account of M/s ECIL., nor entitled to avail fresh cenvat credit or keeping any such cenvat credit lying in balance as it would stand lapse on the day of closing or transferring or selling entire bus ..... X X X X Extracts X X X X X X X X Extracts X X X X
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