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TMI Blog2019 (11) TMI 492X X X X Extracts X X X X X X X X Extracts X X X X ..... D THAT:- On pre closure charges of loan account, it is found that the Ld. Counsel made a concession that he is not contesting on merit. Therefore, demand for the normal period stands upheld. Time limitation - penalty - HELD THAT:- There is a force in the argument of the Ld. Counsel that the issue is not free from doubt as regard the pre closure charges will attract service tax or otherwise. Since ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue of locker rent charges received prior to 10/09/2204 is exempted - There is no dispute that the entire amount on which the Service Tax demand was raised was received prior to 10/09/2004 as can be seen in OIO. In this position, there is no doubt that amount being received prior to 10/09/2004 towards locker rent charges is covered by the exemption notification 25/2004-ST - the demand on locker ren ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... emand is time barred which is beyond the period of one year from the Show Cause Notice. He submits that the issue was involving interpretation of taxability provision, there were contrary decisions as in the case of Small Industries Development Bank of India (SIDCO) in the favour of the assessee. Thereafter, in the case of HUDCO which is against the assessee is pending before the larger bench of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue reiterates the findings of the impugned order. 4. Heard both sides and perused the records. As regard the service tax demand on pre closure charges of loan account, we find that the Ld. Counsel made a concession that he is not contesting on merit. Therefore, demand for the normal period stands upheld. As regard the submission made on the limitation, there is a force in the argument of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Financial service and other services with effect from 10/09/2004, however, by virtue of notification 25/2004-ST, the value of locker rent charges received prior to 10/09/2204 is exempted. There is no dispute that the entire amount on which the Service Tax demand was raised was received prior to 10/09/2004 as can be seen in OIO. In this position, there is no doubt that amount being received prior ..... X X X X Extracts X X X X X X X X Extracts X X X X
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