https://www.taxtmi.com/caselaws?id=758678 Investment in mutual funds and securities, by itself, does not amount to trading in securities or the provision of an exempted service for Rule 6 Cenvat credit reversal. The Tribunal treated the financial statement entries as reflecting deployment of surplus funds under investing activities, not trading activity, and noted that the assessee was engaged in software and business support services rather than securities dealing. It therefore found no service rendered to another person and no statutory basis to treat the investments as an exempted output, so the demand for reversal of Cenvat credit could not be sustained. en-us Thu, 01 Aug 2024 00:00:00 +0530 Tue, 17 Sep 2024 20:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758678 Investment in mutual funds and securities, by itself, does not amount to trading in securities or the provision of an exempted service for Rule 6 Cenvat credit reversal. The Tribunal treated the financial statement entries as reflecting deployment of surplus funds under investing activities, not trading activity, and noted that the assessee was engaged in software and business support services rather than securities dealing. It therefore found no service rendered to another person and no statutory basis to treat the investments as an exempted output, so the demand for reversal of Cenvat credit could not be sustained. Case-Laws Service Tax Thu, 01 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758678