https://www.taxtmi.com/caselaws?id=751950 CESTAT Chennai held that press mud, being a waste product similar to bagasse resulting from manufacturing processes, cannot sustain tax demand. Following Allahabad HC precedent in Balrampur Chini Mills case, Rule 6 of CENVAT Credit Rules does not apply for reversal regarding bagasse-like waste products. Additionally, investment in shares/securities yielding dividend income lacks service element and cannot be treated as exempt service without proving service provision exists. Revenue failed to establish investment constituted service, and trading in securities involves title transfer in goods, specifically excluded from service definition. Both demands were set aside and appeal allowed. en-us Wed, 24 Apr 2024 00:00:00 +0530 Wed, 01 May 2024 05:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751950 CESTAT Chennai held that press mud, being a waste product similar to bagasse resulting from manufacturing processes, cannot sustain tax demand. Following Allahabad HC precedent in Balrampur Chini Mills case, Rule 6 of CENVAT Credit Rules does not apply for reversal regarding bagasse-like waste products. Additionally, investment in shares/securities yielding dividend income lacks service element and cannot be treated as exempt service without proving service provision exists. Revenue failed to establish investment constituted service, and trading in securities involves title transfer in goods, specifically excluded from service definition. Both demands were set aside and appeal allowed. Case-Laws Central Excise Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751950