Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Rule 6(5) of the CENVAT Credit Rules, 2004 allows full credit of service tax on specified input services notwithstanding the restrictions in Rule 6(1) to 6(3), unless the services are used exclusively for exempted goods. The Tribunal treated the disputed maintenance and software-related services as covered by Rule 6(5), so credit could not be denied merely because the services were common to dutiable and exempted production or because separate records were not maintained. It also recognised the retrospective amendment permitting proportionate reversal with interest for common credit disputes pending up to 31.03.2008, and found the department should have considered that relief. The demand, interest and penalty were set aside.
Rule 6(5) of the CENVAT Credit Rules, 2004 allows full credit of service tax on specified input services notwithstanding the restrictions in Rule 6(1) to 6(3), unless the services are used exclusively for exempted goods. The Tribunal treated the disputed maintenance and software-related services as covered by Rule 6(5), so credit could not be denied merely because the services were common to dutiable and exempted production or because separate records were not maintained. It also recognised the retrospective amendment permitting proportionate reversal with interest for common credit disputes pending up to 31.03.2008, and found the department should have considered that relief. The demand, interest and penalty were set aside.
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