Appeal dismissed: petitioner denied ITC for electricity used in township maintenance as residential supply; Explanation 1(d) prospective under s.2(17)...
Registration under section 12AA granted where substantive charitable objects for ex-servicemen, incidental commercial activity permitted and profits a...
Page of 4826
Press 'Enter' after typing page number.
9921 to 9940 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
CESTAT allowed the appeal, set aside the impugned order of the Commissioner and held that the dredger imported by the assessee does not fall within the restricted definition of "capital goods" under CCR Rule 2(a) such that the exclusion in Rule 2(k)(v)(c) would preclude its treatment as an "input." The Tribunal construed the terms of Rules 2(a) and 2(k) contextually, applying the proviso "unless the context otherwise requires," and concluded the expression "capital goods" in Rule 2(k) must be read consistently with Rule 2(a). Consequently the exclusion clause is inapplicable and the assessee is entitled to CENVAT credit in respect of the dredger.
CESTAT allowed the appeal, set aside the impugned order of the Commissioner and held that the dredger imported by the assessee does not fall within the restricted definition of "capital goods" under CCR Rule 2(a) such that the exclusion in Rule 2(k)(v)(c) would preclude its treatment as an "input." The Tribunal construed the terms of Rules 2(a) and 2(k) contextually, applying the proviso "unless the context otherwise requires," and concluded the expression "capital goods" in Rule 2(k) must be read consistently with Rule 2(a). Consequently the exclusion clause is inapplicable and the assessee is entitled to CENVAT credit in respect of the dredger.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
