JUDGMENT :

Basant Balaji, J.

The Principal Commissioner of Central Tax and Central Excise is the appellant. The appeal is filed impugning the final order No. 20106 of 2020 in Service Tax Appeal No. 486 of 2009 of CESTAT.

2. The respondent Bank is engaged in providing banking and other financial services. On Intelligence Report that the bank was not assessing and paying the full amount of service tax on services rendered by them and also not accounting the charges paid for services received from outside India, which is liable for payment of service tax on reversed charges basis, an Investigation was initiated against the bank. After investigation, Annex.A show cause notice dated 3.9.2008 was issued. The Chief Financial Officer of the Bank appeared on the summons issued and gave a statement under Section 41 of the Central Excise Act, 1944, and the same was recorded on 4/1/2008. The Commissioner of Central Excise, Customs and Service Tax adjudicated the issue and passed Annex.B Order-in-Original No.05 of 2009 ST demanding Rs. 5,45,61,022/-for the period from 10.9.2004 to 31.7.07 under section 73(2) of the Finance Act 1994 (for short ‘the Act’) and also imposed penalty under Sections 76 a