https://www.taxtmi.com/caselaws?id=457325 CESTAT Bangalore allowed the appeal and set aside the demand for CENVAT credit reversal and service tax. The Tribunal held that mutual fund investments by the appellant cannot be considered exempted services under Rule 6(3) of CENVAT Credit Rules, 2004, as the appellant merely invests and earns profit shown as other income, not acting as a service provider. Additionally, amounts recovered from employees for waiver of notice period do not constitute taxable service, as compensation paid by employees to employers for resigning without requisite notice is not consideration for employment contract. Both demands with interest and penalty were rejected. en-us Wed, 13 Mar 2024 00:00:00 +0530 Mon, 16 Sep 2024 20:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457325 CESTAT Bangalore allowed the appeal and set aside the demand for CENVAT credit reversal and service tax. The Tribunal held that mutual fund investments by the appellant cannot be considered exempted services under Rule 6(3) of CENVAT Credit Rules, 2004, as the appellant merely invests and earns profit shown as other income, not acting as a service provider. Additionally, amounts recovered from employees for waiver of notice period do not constitute taxable service, as compensation paid by employees to employers for resigning without requisite notice is not consideration for employment contract. Both demands with interest and penalty were rejected. Case-Laws Service Tax Wed, 13 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457325