https://www.taxtmi.com/caselaws?id=334974 Services used to raise funds through GDRs for business expansion may qualify as input service credit under Rule 2(l) of the CENVAT Credit Rules, 2004 where they are sufficiently connected with financing and other business activities. Disclosure of the transaction in returns and records also weakens any allegation of suppression, making the extended period of limitation and penalty unsustainable. The text states that the denial of credit was set aside and the assessee's claim was sustained. en-us Tue, 12 Apr 2016 00:00:00 +0530 Thu, 24 Nov 2016 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334974 Services used to raise funds through GDRs for business expansion may qualify as input service credit under Rule 2(l) of the CENVAT Credit Rules, 2004 where they are sufficiently connected with financing and other business activities. Disclosure of the transaction in returns and records also weakens any allegation of suppression, making the extended period of limitation and penalty unsustainable. The text states that the denial of credit was set aside and the assessee's claim was sustained. Case-Laws Central Excise Tue, 12 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334974