https://www.taxtmi.com/caselaws?id=448657 CESTAT Kolkata allowed appeal partially in service tax matter. Tribunal set aside Rs. 15,95,552 demand for Cenvat credit on residential telephone bills provided to employees, following precedent that such services qualify as input services under business activities definition. Confirmed Rs. 5,69,734 demand for mutual fund services but remanded for interest calculation. Set aside Rs. 9,60,92,082 demand on government securities transactions, holding no service element exists in investment activities. Waived penalties under Sections 76 and 78 of Finance Act 1994, finding no willful evasion or fraud, invoking Section 80 provisions for bonafide payments. en-us Tue, 23 Jan 2024 00:00:00 +0530 Sat, 27 Jan 2024 08:30:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448657 CESTAT Kolkata allowed appeal partially in service tax matter. Tribunal set aside Rs. 15,95,552 demand for Cenvat credit on residential telephone bills provided to employees, following precedent that such services qualify as input services under business activities definition. Confirmed Rs. 5,69,734 demand for mutual fund services but remanded for interest calculation. Set aside Rs. 9,60,92,082 demand on government securities transactions, holding no service element exists in investment activities. Waived penalties under Sections 76 and 78 of Finance Act 1994, finding no willful evasion or fraud, invoking Section 80 provisions for bonafide payments. Case-Laws Service Tax Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448657