Impact of JBM Industries CESTAT decision reported in 2017 (2) TMI 1036

[Nash Industries I Pvt Ltd]

The decision appears to be flawed. The intention of the legislation to provide for N/N 67/95 CE dated 16.03.1995 has been totally negated by this judgment.

This judgment has wide ramifications across industry as the revenue based on this judgment shall pounce on assessees.

Would appreciate, if you could let us know whether the appeal has been filed in HC against this order or any stay has been granted.

Thanks and Regards

S.Ramaswamy

AI Summary

Interpretation of notification that negates legislative intent may expose assessees to significant revenue liability and appeals.
A tribunal decision is reported to have construed a notification in a manner that negates its legislative intent, thereby exposing assessees to broad revenue demands; the correspondence seeks whether an appeal or interim stay exists and advises checking the High Court website for the appellate status.