2016 (3) TMI 855

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....fact of the case is that the appellant is a Co-operative Bank providing services of "Banking and other Financial Services". They are availing Cenvat Credit under Cenvat Credit Rules. Show cause notice was issued alleging that the appellant has availed Cenvat Credit on common input service, which has been used in the taxable output service as well as exempted output service, therefore proposed demand of Rs. 15,03,775/- on the value of exempted service in terms of Rule 6(3)(i) of Cenvat Credit Rules, 2004 i.e. at the rate of 6%/8% of the value of the value of exempted service. It was also proposed to demand interest and penalty under Rule 15A of Cenvat Credit Rules, 2004. The show cause notice was adjudicated wherein the charge made in the sh....

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....basis of the confirmation of demand is not correct. In support of his arguments he placed reliance on the following judgments: (i) M/s. Vidyanath Urban Co-operative Bank Ltd. vs. Commissioner of Central Excise, Aurangabad, Order No. A/1218/14/SMB/C-IV (ii) Jost's Engineering Co. Ltd. vs. Commissioner of Central Excise, Mumbai III - 2013-TIOL-732-CESTAT-MUM (iii) Nagar Urban CO-op Bank Ltd. vs. Commissioner of Customs, Central Excise & Service Tax, Aurangabad - 2014-TIOL-929-CESTAT-MUM (iv) Preeti Logistics Ltd. vs. Commissioner of Central Excise, Raigad - 2014-TIOL-854-CESTAT-MUM 4. On the other hand, Shri B. Kumar Iyer, Ld. Supdt. (A.R.) appearing on behalf of the Revenue reiterates the findings of the impugned order. He....