2013 (11) TMI 603

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....padhyay, Auth. Rep. For the Respondent: Shri Manoj Kutty, A.R. ORDER Per: Mr. M.V. Ravindaran; This stay application is filed for the waiver of pre-deposit of an amount confirmed as service tax, interest thereof and penalties under various Sections of Finance Act, 1994. 2. Heard both sides and perused the records. 3. Both the lower authorities have held against the assessee for confirming d....

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....ervice charges to the Bank. 5. On careful consideration of the issue, we find that there is no dispute as to the fact that the Bonds were floated by the appellant abroad and they were subscribed by the individuals or the institutions abroad. In order to receive and deploy the amounts floated under the Bonds, appellants had directed by the bankers over there to open an account and receive the amou....