https://www.taxtmi.com/caselaws?id=759004 CESTAT Mumbai-AT allowed the appeal regarding CENVAT credit on exempt services. The case involved investment of surplus cash in mutual funds and trading of securities, with authorities demanding service tax under Rule 6(3) of CENVAT Credit Rules, 2004 for non-maintenance of separate credit accounts. Following precedent from Cognizant Technology Solutions case, the Tribunal held that investment of surplus cash in mutual funds does not constitute trading activity and authorities erred in treating such investments as taxable services. The impugned order was set aside. en-us Tue, 10 Sep 2024 00:00:00 +0530 Sat, 21 Sep 2024 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759004 CESTAT Mumbai-AT allowed the appeal regarding CENVAT credit on exempt services. The case involved investment of surplus cash in mutual funds and trading of securities, with authorities demanding service tax under Rule 6(3) of CENVAT Credit Rules, 2004 for non-maintenance of separate credit accounts. Following precedent from Cognizant Technology Solutions case, the Tribunal held that investment of surplus cash in mutual funds does not constitute trading activity and authorities erred in treating such investments as taxable services. The impugned order was set aside. Case-Laws Service Tax Tue, 10 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759004