2013 (11) TMI 1401

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....t penalty on the grounds that input services on which cenvat credit is taken has no nexus with the output service of 'Management Consultancy Services and Works Contract services' provided by the appellant. 2. Shri Jigar Shah (Advocate) and Shri Nitesh Jain (Chartered Accountant) appearing on behalf of the appellant argued that all the services, for which the cenvat credit has been availed, have been received by the appellant only and were used in relation to providing of output services, as per the provisions of Rule 2 (l) of the Cenvat Credit Rules, 2004. It was his case that even if a part of services provided by ICICI Bank Limited and Yes Bank Limited are with respect to exempted services, then also cenvat credit of the services provide....

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....07 entered between the appellant and M/s. Yes Bank Limited that Sadbhav Infrastructure Project Limited (SIPL for short) has been given alternate names 'Sadbhav' or 'Company'. The word 'Sadbhav or the Company' has been defined in the definition contained in this contract as follows:-              Sadbhav or the Company shall mean and include Sadbhav Engineering Limited itself and including where applicable, its or its promoters group/ associate/ subsidiary/ affiliate companies or special purpose entities, existing or floated for the purpose of the Transaction in India or abroad and which are required to be involved for the Transaction. 4.1 Further the scope of services as containe....