2013 (12) TMI 1226

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....th sides. 2. The appellant filed this appeal against the impugned order passed by the Commissioner of Service Tax, Mumbai whereby the demand of Rs.76,41,245/- was confirmed along with the interest and penalties were also imposed. The demand is confirmed on the ground that the appellant had provided "Banking and other financial services" covered under Section 65(12) of the Finance Act, 1994. ....

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....ty and the same has been explained during the personal hearing and also submitted by way of written submission but the same was not taken into consideration by the adjudicating authority. Though the appellant was held to be covered under the definition of "Banking and other financial services" under Financial Leasing Services, including equipment leasing and Hire Purchase the total rent worked out....

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....deration as lease rent earned by the appellant whereas in the impugned order the adjudicating authority has taken into consideration the lease agreement with M/s JBF Industries Ltd., for considering the amount as Rs. 3.50 Crore. The adjudicating authority confirmed the demand after taken into consideration the amount mentioned in the show-cause notice and there is no discussion in the impugned ord....