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AI Drafter ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether waiver of pre-deposit and stay of recovery should be granted in respect of the service tax demand and penalties imposed under the Finance Act, 1994.
Analysis: The appellant was engaged in manufacture of industrial gases and had leased storage tanks to customers who did not own them. The dispute was whether this activity attracted service tax under banking and financial services. In view of the earlier stay order in the appellant's own case for a prior period, the Tribunal found it fit to waive pre-deposit of the tax and penalties and to grant stay during pendency of the appeal.
Outcome: Pre-deposit of the service tax demand and penalties was waived and recovery was stayed pending disposal of the appeal.
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