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...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
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The appellant wrongly availed Cenvat credit on input services for unsold flats after issuance of completion certificate, contravening Rules 6(3) and 6(3A) of the Cenvat Credit Rules, 2004. Section 73(2) of the Finance Act, 1994, read with Rule 14 of the Cenvat Credit Rules, 2004, was invoked for extended period of limitation, interest, and penalty. The appellant admitted that after receiving the completion certificate, the building became immovable property, and booking receipts were for sale of property, not service. The appellant had the option to take proportionate credit for sold flats and reverse the balance for unsold flats. Cenvat credit eligibility has a direct nexus with tax payment liability. Since the appellant had no service tax liability for unsold flats, they were ineligible to retain the availed Cenvat credit. The Tribunal affirmed the invocation of extended period, penalty, and interest, as the appellant suppressed material facts with intent to evade service tax liability. The appeal was dismissed.
The appellant wrongly availed Cenvat credit on input services for unsold flats after issuance of completion certificate, contravening Rules 6(3) and 6(3A) of the Cenvat Credit Rules, 2004. Section 73(2) of the Finance Act, 1994, read with Rule 14 of the Cenvat Credit Rules, 2004, was invoked for extended period of limitation, interest, and penalty. The appellant admitted that after receiving the completion certificate, the building became immovable property, and booking receipts were for sale of property, not service. The appellant had the option to take proportionate credit for sold flats and reverse the balance for unsold flats. Cenvat credit eligibility has a direct nexus with tax payment liability. Since the appellant had no service tax liability for unsold flats, they were ineligible to retain the availed Cenvat credit. The Tribunal affirmed the invocation of extended period, penalty, and interest, as the appellant suppressed material facts with intent to evade service tax liability. The appeal was dismissed.
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