The Tribunal viewed that the withholding of eligibility for exemption and consequent demand for service tax from the appellant is grossly illegal and cannot be sustained.
The Kolkata Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has quashed the service tax demand on interest equivalent on overdraft or cash credit extended by cooperative banks. The Assam Cooperative Apex Bank Ltd, the appellant/assessee is a cooperative, Apex Bank. Following the visit of the Internal Audit Party of the Dibrugarh Commissionerate,…
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