https://www.taxtmi.com/caselaws?id=186945 The Tribunal set aside interest and penalties imposed on the appellant for payment made towards External Commercial Borrowing under the reverse charge mechanism. The decision aligned with the Jain Irrigation Systems Ltd. case, emphasizing revenue neutrality and the appellant's utilization of CENVAT credit. The Tribunal found no misuse of alternate schemes, no mens rea for penalties, and differentiated the case from previous precedents. The appeal was allowed, and the application for stay extension was disposed of in favor of the appellant. en-us Wed, 30 Dec 2015 00:00:00 +0530 Wed, 05 Oct 2016 10:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186945 The Tribunal set aside interest and penalties imposed on the appellant for payment made towards External Commercial Borrowing under the reverse charge mechanism. The decision aligned with the Jain Irrigation Systems Ltd. case, emphasizing revenue neutrality and the appellant's utilization of CENVAT credit. The Tribunal found no misuse of alternate schemes, no mens rea for penalties, and differentiated the case from previous precedents. The appeal was allowed, and the application for stay extension was disposed of in favor of the appellant. Case-Laws Service Tax Wed, 30 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186945