2014 (8) TMI 985

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.... Shri Akhil Gupta, C.A., for the Respondent. ORDER [Order per : Justice G. Raghuram, President]. - Ld. Division Bench of this Tribunal in M/s. Canara Bank v. CST, Bangalore - 2012-TIOL-790-CESTAT-AHM = 2012 (28) S.T.R. 369 (Tri.), interpreted provisions of Notification No. 22/2006-S.T., dated 31-5-2006 as extending the benefits of the exemptions enumerated therein, to Banking or other Financial....

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....s necessary in the public interest so to do, hereby exempts the following taxable services from the whole of the service tax leviable thereon under section 66 of the said Finance Act, namely : - (i)      taxable services provided or to be provided to any person, by the Reserve Bank of India; (ii)     taxable services provided or to be provided by any ....

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...., it appears to us that since it is settled law that an exemption Notification must be strictly and narrowly construed, treating a bank authorised by the RBI (to transact Government business) as the agent of the RBI and thus entitled to exemptions clearly confined to the RBI (under Notification No. 22/2006-S.T.), is an interpretation that warrants deeper analysis and possible reconsideration. We a....