9911796707
TMI Blog2017 (11) TMI 1335X X X X Extracts X X X X X X X X Extracts X X X X ..... ondemned - The respondent-Corporation, to show their bona fides, had paid service tax even for the period prior to 19th April, 2006. Non-contest in the proceedings under Section 73 cannot be used as a ground or reason to establish and show that requirements of Section 78 are satisfied - penalty set aside - appeal dismissed - decided against Revenue. - SERTA 8/2017 - - - Dated:- 10-11-2017 - MR. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... banks/financial institutions and through offshore borrowings. 3. For overseas borrowing, the respondent-Corporation had paid arrangement fee, annual agency fee, upfront fee, underwriting fee etc. to several non-resident financial institutions. 4. As per the case set up by the appellant, reverse charge principle was applicable on the said charges and the respondent-Corporation was liable to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ords that the service tax on reverse charge basis was payable on payments to non-residents with effect from 19th April, 2006 in view of the amendment carried out in the Finance Act through insertion of Section 66A. In fact, the respondent-Corporation had paid service tax even for the prior period. We have referred to the aforesaid position to show the bona fides of the respondent-Corporation. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eld that the said Corporation has accepted that they had suppressed facts or contravened provisions of the Act/Rules with the intent to evade payment of service tax. The argument should be rejected. Goodness and precocious conduct of the respondent Corporation in making payment has to be appreciated and not condemned. The respondent-Corporation, to show their bona fides, had paid service tax even ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
