2016 (3) TMI 1103

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....e for the appellant Shri D. Nagvenkar, Addl. Commissioner (AR) for the respondent JUDGEMENT Per: M.V. Ravindran: This appeal is filed against Order-in-Original No: 21/STC-I/BR/10-11 dated 26/07/2010 passed by the Commissioner of Service Tax - I, Mumbai. 2. The issue involved in this case is regarding taxability of the amount under banking and financial services. The said amount has ....

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....015-TIOL-2464-CESTAT-MUM. It is the submission that the interest liability and the penalties imposed be set aside as the Tribunal in the case of Jain Irrigation Systems Ltd. vs. Commissioner of Central Excise, Nashik 2015-TIOL-1674-CESTAT-MUM has held that there cannot be any recovery of interest or imposition of penalties. 4. Learned Departmental Representative reiterates the findings of the l....

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....). 7. As regards the case law relied upon by the learned counsel in the case of Jain Irrigation Systems Ltd (supra), we find that in that case, the appellant therein had not discharged the interest liability and was contesting the same before the lower authorities on the ground that demand being time-barred. In the peculiar facts of that case, the bench held that recovery of interest and the im....

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....r Section 76 and 78, in the case in hand, in the peculiar circumstances we find that the appellant having discharged the entire service tax liability and the interest thereof before issuance of the show cause notice which would mean that the provisions of Section 73(3) of the Finance Act, 1994 would apply in its full force, which mandates for non-issuance of show cause notice to the assessee once ....