2013 (11) TMI 866

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....OCATE For the Respondent: SHRI S.P.PAL, A.R.(APPRAISER) ORDER Per Dr. D. M. Misra; This is an Application seeking waiver of preposit of Service Tax of Rs.1.14 crore and equal amount of penalty imposed under Section 78 and Rule 15 of the CENVAT Credit Rules, 2004 and penalties imposed under other provisions of the Finance Act, 1994. 2. At the outset, ld. Advocate, Shri M.L. Gupta for....

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..... Advocate further submitted that the Hon'ble Delhi High Court in the case of Inter-Continental Consultants & Technocrafts Pvt. Ltd. vs. UOI, 2013(29)STR 9(Del.), has declared Rule 5 of the Valuation Rules as ultra vires Sections 66 and 67 of the Finance Act, 1994. 3. Heard the ld. AR for the Revenue. The ld. AR reiterated the findings of the Commissioner. The ld. AR could not produce any decis....