https://www.taxtmi.com/caselaws?id=290772 The Tribunal held that the restriction on CENVAT credit for capital goods used for both eligible and non-eligible activities should not apply unless the goods were exclusively intended for exempt services from the beginning. It emphasized that exclusions must be explicitly stated in the legislative framework. The Tribunal remanded the matter for reassessment, stressing the importance of evaluating the intent and usage of capital goods, the taxability of services under the Finance Act, and the impact of revised income tax returns on CENVAT credit eligibility. en-us Fri, 29 Nov 2019 00:00:00 +0530 Thu, 15 Oct 2020 12:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290772 The Tribunal held that the restriction on CENVAT credit for capital goods used for both eligible and non-eligible activities should not apply unless the goods were exclusively intended for exempt services from the beginning. It emphasized that exclusions must be explicitly stated in the legislative framework. The Tribunal remanded the matter for reassessment, stressing the importance of evaluating the intent and usage of capital goods, the taxability of services under the Finance Act, and the impact of revised income tax returns on CENVAT credit eligibility. Case-Laws Service Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290772