https://www.taxtmi.com/caselaws?id=360857 The Tribunal set aside the order disallowing cenvat credit amounting to Rs. 4.42 crores for irregular availing of credit under the Cenvat Credit Rules, 2004. The appellant successfully argued that the Revenue's formula for restricting cenvat credit lacked legal basis and failed to prove any ineligible input services availed. The Tribunal emphasized that once cenvat credit is availed for eligible input services, it cannot be denied based on a formula. The appeal was disposed of in favor of the appellant, affirming their legal entitlement to cenvat credit for eligible input services and rejecting the Revenue's formula-based restriction. en-us Tue, 22 May 2018 00:00:00 +0530 Mon, 24 Feb 2020 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360857 The Tribunal set aside the order disallowing cenvat credit amounting to Rs. 4.42 crores for irregular availing of credit under the Cenvat Credit Rules, 2004. The appellant successfully argued that the Revenue's formula for restricting cenvat credit lacked legal basis and failed to prove any ineligible input services availed. The Tribunal emphasized that once cenvat credit is availed for eligible input services, it cannot be denied based on a formula. The appeal was disposed of in favor of the appellant, affirming their legal entitlement to cenvat credit for eligible input services and rejecting the Revenue's formula-based restriction. Case-Laws Service Tax Tue, 22 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360857