TaxTMI 
TaxTMI 
2011 (4) TMI 612
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....waiver of pre-deposit of the following amounts:- a. Service tax - Rs.23,84,985/- b. Interest. c. Penalty - Rs.40 lakhs u/s 78. d. Penalty - Rs.5000/- u/s 77. The above confirmed demand has arisen on the ground that the appellant had not discharged the service tax liability on the commission paid by them to the person ....
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....ount for the services rendered in relation to the arrangement of the issuance of FCCBs. It is his submission that the money so raised by the M/s. Elara Capital Pic was invested in Mauritius i.e. outside India. It is his submission that the amounts paid as transaction fees to M/s. Elara Capital Pic was also paid through the bank accounts maintained by them in Geneva through Merrill Lynch Bank (Suis....
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.... of the lower authorities. 5. We have considered the submissions made by both sides and perused the records. It is seen from the impugned order that there is no dispute that the appellant had raised FCCBs in the international capital market and the money so raised was invested in Mauritius. It is also undisputed that the services were rendered and consumed outside India. The lower authorities hav....