Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
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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