2009 (6) TMI 893

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..... Srinivasa, JDR, for the Respondent. ORDER This stay petition is directed against the waiver of the pre-deposit of the amount of Rs. 44,73,932/- (Rupees Forty-four lakh seventy-three thousand nine hundred and thirty-two only) and equivalent penalty. 2. Heard both sides and perused the records. 3. The confirmation of the demand has arisen on the ground that the appellant has availed th....

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.... 4. Learned Counsel appearing on behalf of the appellant submits that the Board's Circular No. 97/7/2007-S.T., dated 23-8-2007 will squarely cover the issue in favour of the appellant more specifically Para 2.3 of the said circular. 5. On a careful consideration of the issue, we find that the Board's Circular dated 23-8-2007 clearly speaks about the service tax credit to be distributed by "In....