https://www.taxtmi.com/caselaws?id=243599 The Tribunal granted the application for waiver of pre-deposit of service tax and penalty amounting to Rs.6,68,448/- imposed under Section 78 of the Finance Act, 1994. The applicants, engaged in the manufacture of sponge iron, were found to have used iron ore and coal in their manufacturing process, justifying the cenvat credit availed on service tax paid. The Tribunal rejected the Revenue's argument to reverse the cenvat credit on iron ore fines sold in the market, citing legal precedents that supported the applicants' position. As a result, the Tribunal waived all dues adjudged and stayed the recovery during the appeal. en-us Thu, 18 Apr 2013 00:00:00 +0530 Wed, 05 Feb 2014 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243599 The Tribunal granted the application for waiver of pre-deposit of service tax and penalty amounting to Rs.6,68,448/- imposed under Section 78 of the Finance Act, 1994. The applicants, engaged in the manufacture of sponge iron, were found to have used iron ore and coal in their manufacturing process, justifying the cenvat credit availed on service tax paid. The Tribunal rejected the Revenue's argument to reverse the cenvat credit on iron ore fines sold in the market, citing legal precedents that supported the applicants' position. As a result, the Tribunal waived all dues adjudged and stayed the recovery during the appeal. Case-Laws Service Tax Thu, 18 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243599