2008 (11) TMI 105

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.... V.K. Jain, Advocate, for the Appellant. Shri Sameer Chitkara, SDR, for the Respondent. [Order per: B.S.V. Murthy, Member (T)]. - M/s. Essar Steel Ltd. had availed External Commercial Borrowings to the extent of US $ 120 million, $ 70 million and $ 190 million in Nov 2006, Feb 2007 and Sep 2007 respectively from non-resident lenders, who do not have any office in India and had paid certain f....

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....d that the factory is located in Hazira, Surat and transaction relating to ECB was handled only by the headquarters of the company in Bombay and because of lack of coordination between the two offices, the omission to pay service tax occurred. He also submitted that the levy was also a new levy. Further, he submitted that there is no reason for them not to pay the service tax since as soon as they....

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....on and other issues. He submits that this case is very relevant to the issue. On the other hand, ld. SDR on behalf of the Revenue submits that Revenue neutrality is not only criterion and what is required to be looked into is liability. He also submitted that the appellant's explanation of lack of coordination is not convincing. 3. Since a short issue is involved, with the consent of both the s....