https://www.taxtmi.com/caselaws?id=268236 The Tribunal held that Cenvat credit for trading activity was impermissible, directing the appellant to segregate input services for trading and reverse the credit. Rule 6 of the Cenvat Credit Rules did not apply to trading activities. Penalties under Sections 77 and 78 were overturned due to the absence of evidence of fraudulent intent, with the matter remanded for quantifying the service tax liability related to trading. The appellant was granted a personal hearing before any subsequent orders by the Original Authority. en-us Mon, 31 Aug 2015 00:00:00 +0530 Mon, 23 Nov 2015 03:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268236 The Tribunal held that Cenvat credit for trading activity was impermissible, directing the appellant to segregate input services for trading and reverse the credit. Rule 6 of the Cenvat Credit Rules did not apply to trading activities. Penalties under Sections 77 and 78 were overturned due to the absence of evidence of fraudulent intent, with the matter remanded for quantifying the service tax liability related to trading. The appellant was granted a personal hearing before any subsequent orders by the Original Authority. Case-Laws Service Tax Mon, 31 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268236