9911796707
TMI Blog2021 (8) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... ances - HELD THAT:- Giving of loans is not a service, rather it is an activity of the Bank in which money in real terms which is akin to goods, is given to borrower. Further, for the reason that interest earned by the Bank on loans is not liable to tax, the show cause notice alleged that giving of loan is an exempt service. Further, the SCN have been issued after more than 32 months from the last ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erved that appellant had taken cenvat credit wrongly, relating to the period April, 2008 to March, 2010 being on input service - Collateral Management charges as per the invoices raised by the National Bulk Handling Corporation which provides services in relation to processing of loans / advances, as is evident from the invoices. It appeared to Revenue that such input service is exclusively us ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st. 5. Being aggrieved, the appellant preferred appeal before the Commissioner (Appeals) who was pleased to dismiss the appeal upholding the order-in-original. As regards the limitation, learned Commissioner (Appeals) observed that there is lack of bonafide, as in case of doubt, they should have approached the Department, but failing to do so, the appellant cannot get absolved from the charges ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the return properly and /or there is any suppression of facts or mis-statement in the returns. Accordingly, he prays for allowing the appeal both on limitation and on merit. 7. Learned Authorised Representative Shri Pradeep Gupta appearing for the Department relies on the impugned order. 8. Having considered the rival contentions, I find that giving of loans is not a service, rather it is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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