2013 (12) TMI 102

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....i Rajiv Luthia, CA PER : S S Kang Heard both sides. 2. The Revenue filed this appeal against the impugned order passed by the Commissioner (Appeals) whereby the Commissioner (Appeals) has allowed the benefit of Notification no. 56/98-ST dated 7.10.1998 and dropped the demand of Rs.3,57,362/- and consequential penalty. 3. The contention of the Revenue is that the respondents are providi....

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.... providing security services to the banks. Therefore the respondents are entitled to the benefit of the Notification. 5. In the present case the issue is whether the respondents are entitled for the benefit of the Notification 56/98-ST dated 7.10.1998. The Notification is reproduced below:-    "In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994),....

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....sit lockers or security of safe vaults. In view of this the benefit of notification is not available to the respondents. 6.1 In respect of the imposition of penalties we find that section 80 of the Finance Act provides that "Notwithstanding anything contained in the provisions of Section 76, section 77 or section 78 no penalty shall be imposable on the assessee for any failure referred to in th....