Appeals dismissed; transactions not liable to service tax, ocean freight receipts valid under Rule 9; Sections 76-78 penalties not sustained The SC dismissed the appeals, upholding the CESTAT finding that the transactions were not liable to service tax and that receipts towards ocean freight ...
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Appeals dismissed; transactions not liable to service tax, ocean freight receipts valid under Rule 9; Sections 76-78 penalties not sustained
The SC dismissed the appeals, upholding the CESTAT finding that the transactions were not liable to service tax and that receipts towards ocean freight qualified as eligible documents under Rule 9 of the Cenvat Credit Rules, 2004. The court declined to sustain imposition of consolidated penalties under Sections 76-78 and did not permit denial of Cenvat credit based solely on procedural irregularities. The challenge to the extended period of limitation failed and there was no reason to interfere with the impugned judgment.
The Supreme Court, presided over by Chief Justice Sanjiv Khanna and Justice Sanjay Kumar, addressed the appeals filed by the appellant, represented by Mr. N. Venkataraman and others. The Court condoned the delay in filing but found no "good ground and reason to interfere with the impugned judgment." Consequently, the appeals were dismissed. Any pending applications were also disposed of.
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