https://www.taxtmi.com/caselaws?id=342960 The Revenue's appeal was dismissed as the appellant was found not liable to pay service tax on income earned from foreign exchange transactions. The appellant's appeal partially succeeded, setting aside the penalty for denied cenvat credit due to prior payment and lack of show cause notice. The relationship between the appellant and TCIL was deemed that of seller and purchaser, exempting the appellant from service tax charges. The issue of denied cenvat credit was remanded for document verification. en-us Mon, 02 Jan 2017 00:00:00 +0530 Tue, 16 May 2017 06:51:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342960 The Revenue's appeal was dismissed as the appellant was found not liable to pay service tax on income earned from foreign exchange transactions. The appellant's appeal partially succeeded, setting aside the penalty for denied cenvat credit due to prior payment and lack of show cause notice. The relationship between the appellant and TCIL was deemed that of seller and purchaser, exempting the appellant from service tax charges. The issue of denied cenvat credit was remanded for document verification. Case-Laws Service Tax Mon, 02 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342960