9911796707
TMI Blog2011 (8) TMI 1119X X X X Extracts X X X X X X X X Extracts X X X X ..... law in India - Held that: - if Service Tax is required to be paid on the transaction in question, CENVAT credit thereof will be available to them as recipient of the service by virtue of Section 66A of the FA, 1994, resulting in revenue neutral situation - Considering the plea of revenue-neutrality raised by the learned counsel, waiver of pre-deposit and stay of recovery granted - appeal allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2007 to March 2009. The relevant show cause notice was issued on 16.7.2009 invoking the extended period of limitation under Section 73 (1) of the said Act. The show-cause notice was issued in respect of transfer of technical know-how by a foreign company to the assessee and the royalty paid to the former by the latter. After examining the records and hearing both sides, we note that it is not in d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ight to Intangible property namely trademarks, designs, patents or any other similar intangible property under any law for the time being in force, but does not include copyrights; As per clause (55b) of Section 65, Intellectual Property Service means transferring temporarily or permitting the use or enjoyment of any Intellectual Property Right. As per Clause 105 (zzr) of Section 65, taxabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t there is no law in India recognizing technical know-how as an Intellectual Property Right. 2. Learned counsel has also pleaded revenue-neutrality as a ground for waiver of pre-deposit and stay of recovery. It is submitted that, if Service Tax is required to be paid on the transaction in question, CENVAT credit thereof will be available to them as recipient of the service by virtue of Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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