2013 (3) TMI 403

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....e, for the Appellant. Shri Nagesh Pathak, AR, for the Respondent. ORDER In this case, Service Tax credit amounting to Rs. 1,37,690/- taken by the Appellant on the four invoices has been denied by the Department on the ground that the Service Tax amounting to Rs. 1,32,890/- has been taken on the three invoices issued by Axis Bank, M/s. TMVT Pvt. Ltd. and M/s. ABB, Bangalore which do not me....

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....1,37,690/- and penalty of equal amount set aside the penalty of Rs. 25,000/- imposed on Shri S.K. Maheshwari. It is against this order that the present appeal and stay application have been filed. 2. Heard both the sides. 3. Shri Kamaljeet Singh, Advocate, learned counsel for the appellant pleaded that bulk of Cenvat Credit of Rs. 1,32,890/- has been taken on the basis of invoices of Axis Ba....

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....rused the records. Cenvat credit of Rs. 1,32,890/- has been taken on the basis of the invoices issued by Axis Bank, M/s. TMVT Industries Pvt. Ltd. and M/s. ABB, Bangalore. The invoice of Axis Bank clearly mentions the nature of service and fee which has been charged by them for processing the loan application of the Appellant. The invoice of M/s. TMVT Industries Pvt. Ltd. also mentions that the sa....