https://www.taxtmi.com/caselaws?id=370488 The Tribunal found in favor of the appellant regarding the availment of CENVAT credit for trading activities. It held that the trading of goods was not exempted before 31.03.2011, rejecting the retrospective application of the exemption. The appellant's reversal of the credit was acknowledged, and the demand for the period before 01.04.2011 was recommended to be set aside. The penalty under Section 78 of the Finance Act, 1994, was also set aside for further verification and re-quantification of the demand. The appeals were partly allowed with instructions for re-evaluation. en-us Wed, 29 Aug 2018 00:00:00 +0530 Mon, 19 Nov 2018 08:37:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370488 The Tribunal found in favor of the appellant regarding the availment of CENVAT credit for trading activities. It held that the trading of goods was not exempted before 31.03.2011, rejecting the retrospective application of the exemption. The appellant's reversal of the credit was acknowledged, and the demand for the period before 01.04.2011 was recommended to be set aside. The penalty under Section 78 of the Finance Act, 1994, was also set aside for further verification and re-quantification of the demand. The appeals were partly allowed with instructions for re-evaluation. Case-Laws Service Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370488