Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The CESTAT ruled in favor of the appellant, holding that CENVAT credit of Rs.57,68,603/- on input services used in setting up a cement plant was eligible despite the removal of "setting up" from the definition of "input service" effective April 2011. The Tribunal found the appellant properly availed credit for banking, management, legal consultancy, and installation services under Rule 2(l) of CENVAT Credit Rules. Additionally, CENVAT credit of Rs.32,557/- based on debit notes for rent was deemed valid as they contained all details required by Rule 4A of Service Tax Rules. The demand for interest of Rs.24,88,246/- was set aside since the appellant maintained sufficient CENVAT credit balance. Penalties under Section 78 of Finance Act were also vacated.
The CESTAT ruled in favor of the appellant, holding that CENVAT credit of Rs.57,68,603/- on input services used in setting up a cement plant was eligible despite the removal of "setting up" from the definition of "input service" effective April 2011. The Tribunal found the appellant properly availed credit for banking, management, legal consultancy, and installation services under Rule 2(l) of CENVAT Credit Rules. Additionally, CENVAT credit of Rs.32,557/- based on debit notes for rent was deemed valid as they contained all details required by Rule 4A of Service Tax Rules. The demand for interest of Rs.24,88,246/- was set aside since the appellant maintained sufficient CENVAT credit balance. Penalties under Section 78 of Finance Act were also vacated.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
