2010 (12) TMI 707

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....ondent. [Order per : M.V. Ravindran, Member (J) (Oral)]. -  This stay petition is filed for the waiver of pre-deposit of the following amounts :- (i)      Service Tax : Rs. 2,85,41,148/- along with interest (ii)    Penalty : Rs. 2,85,00,000/-. 2. Heard both sides and perused the records. 3. The learned counsel submits that the demand has....

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.... credit availed, he would submit that the credit was availed on the Service Tax paid by one of the service providers to them as a Chartered Accountant and that these services were never utilized by the sub-contractors for any other purposes for providing exempted services. It is his submission that in any case, they have deposited an amount of Rs. 19.37 lakhs under the presumption that they are li....