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of <h1>CESTAT Chennai: Service Tax Pre-deposit Waived & Recovery Stayed</h1> The Appellate Tribunal CESTAT, Chennai waived the pre-deposit of Service tax amounting to Rs. 98,57,126 confirmed under 'Banking and other financial ... Waiver of pre-deposit of Service tax - ‘Banking and other financial services.’ - there is no evidence on record to show that the amounts collected were in connection with the loans granted by the assessees to the individuals, pre-deposit waived The Appellate Tribunal CESTAT, Chennai heard the application for waiver of pre-deposit of Service tax of Rs. 98,57,126/- confirmed under 'Banking and other financial services.' The tax was confirmed on various amounts collected from individual borrowers, but there was no evidence connecting these amounts to loans granted. As a result, the Tribunal waived the pre-deposit and stayed recovery pending the appeal.
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