https://www.taxtmi.com/caselaws?id=244310 The Appellate Tribunal CESTAT Bangalore granted waiver and stay for the demanded amount of Rs.49,00,82,011/- and penalty imposed under Rule 6(3) of the CENVAT Credit Rules, 2004. The dispute arose due to the appellant's failure to maintain separate accounts for transactions involving tyres, tubes, and flaps. The Tribunal found a discrepancy in the quantification of the demand, which was calculated at 5% instead of the argued 6% based on the nature of the trading activity as an exempted service. The decision emphasized the importance of accurately applying legal provisions in tax matters. en-us Thu, 21 Feb 2013 00:00:00 +0530 Sat, 22 Feb 2014 17:49:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244310 The Appellate Tribunal CESTAT Bangalore granted waiver and stay for the demanded amount of Rs.49,00,82,011/- and penalty imposed under Rule 6(3) of the CENVAT Credit Rules, 2004. The dispute arose due to the appellant's failure to maintain separate accounts for transactions involving tyres, tubes, and flaps. The Tribunal found a discrepancy in the quantification of the demand, which was calculated at 5% instead of the argued 6% based on the nature of the trading activity as an exempted service. The decision emphasized the importance of accurately applying legal provisions in tax matters. Case-Laws Service Tax Thu, 21 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244310