2018 (4) TMI 728

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....N The present appeal is filed by the assessee - Appellants against the Order - in - Original No. 66/ST/SRB/2014 dated 31.03.2014 passed by the Commissioner of Service Tax (Adjudication), New Delhi, which involves dispute of tax liability for services availed for mobilizing finance by using services of foreign company. 2. At the outset, the learned counsel for the assessee - Appellants submitted....

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....provided immunity for all transactions and operations of IFC from tax liability. Referring to the decision of the Tribunal in the assessee - Appellants' own case [Final Order No. 50386/2017 dated 18.01.2017], the learned counsel submitted that the tax liability excluded by immunity under IFC Act, 1958, cannot be sustained. 3. We have heard both sides and perused the material available on record. ....

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....th IFC is totally misplaced. In this connection, we refer to final order No. A/93164/2016 - ST (B) dated 17/10/2016 of the Tribunal in the case of Coastal Gujarat Power Ltd. vs. CST, Mumbai - I. In the said decision, the Tribunal examined the immunity to IFC and its implication. It was held that the said Act of 1958 is to honour international agreement and specifically to provide immunity to the o....