https://www.taxtmi.com/caselaws?id=400827 CENVAT credit on services linked to statutory banking obligations was found to require reconsideration because the earlier larger bench view allowing credit sat uneasily with the later principle that fiscal and exemption provisions must be construed strictly. The Bench noted that ambiguity in exemption clauses operates in favour of the Revenue and that the correctness of the prior view could not be resolved without authoritative clarification. Applying judicial discipline, it referred the framed questions to the President for constitution of a larger bench. en-us Mon, 02 Nov 2020 00:00:00 +0530 Fri, 20 Nov 2020 12:41:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400827 CENVAT credit on services linked to statutory banking obligations was found to require reconsideration because the earlier larger bench view allowing credit sat uneasily with the later principle that fiscal and exemption provisions must be construed strictly. The Bench noted that ambiguity in exemption clauses operates in favour of the Revenue and that the correctness of the prior view could not be resolved without authoritative clarification. Applying judicial discipline, it referred the framed questions to the President for constitution of a larger bench. Case-Laws Service Tax Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400827