Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
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CENVAT Credit - exempt service or not - amount of interest received by the appellant on the delayed payment of the amount of consideration received from the sale of flats/villas/shops - The Tribunal observed that the interest received is akin to liquidated damages or compensation and does not constitute an exempted service. Therefore, the appellant is not liable for reversal of Cenvat credit based on this interest. The appellant did not perform any service to receive the interest; it was merely a deterrent for delayed payments, thus not requiring reversal of Cenvat credit.
CENVAT Credit - exempt service or not - amount of interest received by the appellant on the delayed payment of the amount of consideration received from the sale of flats/villas/shops - The Tribunal observed that the interest received is akin to liquidated damages or compensation and does not constitute an exempted service. Therefore, the appellant is not liable for reversal of Cenvat credit based on this interest. The appellant did not perform any service to receive the interest; it was merely a deterrent for delayed payments, thus not requiring reversal of Cenvat credit.
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