9911796707
TMI Blog2007 (6) TMI 119X X X X Extracts X X X X X X X X Extracts X X X X ..... passed by the Commissioner of Service tax, Mumbai, the appellants are required to pre-deposit Service tax amounting to Rs. 18,55,51,047/- on the gross receipt for services rendered by them during the period from 1-10-2000 to 14-3-2005 excluding the period from 1-3-2003 to 19-11-2003. The interest at the rate of 13% on the Service tax alleged to have been evaded has been imposed under Section 76 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fications exempt Service Tax in case payment is received in India in convertible foreign exchange. There is no dispute that the appellants received the payment for services rendered, in convertible foreign exchange. However, in terms of proviso to the said notification if the payment received in India in convertible foreign exchange for taxable services rendered is repatriated from India there wou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be covered by the proviso and not otherwise. The learned Advocate stated that the appellants derived income from several sources and one of the sources is the amount received as payment for taxable services rendered. In compliance of the various provisions of Companies Act, 1956 and also the Income-tax Act the appellants are required to arrive at the profits for distribution as dividend. They are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t prima facie the appellants have a strong case. A careful reading of the proviso indicates that only if the entire payment for taxable services rendered has been repatriated, the appellants would be covered by the proviso. In the present case, we are of the view that the appellants would not be hit by the mischief of the said proviso. Hence, we order full waiver of pre-deposit of Service Tax dema ..... X X X X Extracts X X X X X X X X Extracts X X X X
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