9911796707
TMI Blog2008 (11) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... llant. Shri Sameer Chitkara, SDR, for the Respondent. [Order per: B.S.V. Murthy, Member (T)]. - M/s. Essar Steel Ltd. had availed External Commercial Borrowings to the extent of US $ 120 million, $ 70 million and $ 190 million in Nov 2006, Feb 2007 and Sep 2007 respectively from non-resident lenders, who do not have any office in India and had paid certain fees/charges for arranging ECB. There i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Surat and transaction relating to ECB was handled only by the headquarters of the company in Bombay and because of lack of coordination between the two offices, the omission to pay service tax occurred. He also submitted that the levy was also a new levy. Further, he submitted that there is no reason for them not to pay the service tax since as soon as they pay the service tax they were entitled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s case is very relevant to the issue. On the other hand, ld. SDR on behalf of the Revenue submits that Revenue neutrality is not only criterion and what is required to be looked into is liability. He also submitted that the appellant's explanation of lack of coordination is not convincing. 3. Since a short issue is involved, with the consent of both the sides, appeal itself is taken up for dispos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se where show cause notice need not have been issued as provided under Section 73, but since the notice has already been issued, what is required is examination of issue. 4. In view of the above discussions, the duty and interest already paid by the appellant are confirmed and penalties imposed on them are set aside. Both the appeal and stay petition are disposed of. (Pronounced in the open Cour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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