https://www.taxtmi.com/caselaws?id=462097 CASE SUMMARY:SC/Tribunal addressed whether investing surplus funds in mutual funds constitutes "trading activity" under Cenvat Credit Rules. The tribunal ruled that mere investment without purchase/sale of goods does not qualify as trading. Consequently, the department's demand to disallow Cenvat Credit was rejected. The penalty imposed was also set aside, affirming that financial investments by manufacturers do not automatically trigger trading restrictions under Rule 6. en-us Mon, 25 Nov 2024 00:00:00 +0530 Thu, 22 May 2025 20:04:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462097 CASE SUMMARY:SC/Tribunal addressed whether investing surplus funds in mutual funds constitutes "trading activity" under Cenvat Credit Rules. The tribunal ruled that mere investment without purchase/sale of goods does not qualify as trading. Consequently, the department's demand to disallow Cenvat Credit was rejected. The penalty imposed was also set aside, affirming that financial investments by manufacturers do not automatically trigger trading restrictions under Rule 6. Case-Laws Central Excise Mon, 25 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462097