https://www.taxtmi.com/caselaws?id=774275 CESTAT Mumbai allowed appellant's appeal regarding CENVAT credit reversal on mutual fund investment/disinvestment activities. Tribunal held that mutual fund transactions do not constitute "service" under Section 65B(44) of Finance Act, 1994, nor qualify as exempt services under Rule 2(e) of CENVAT Credit Rules. Since investment/disinvestment in mutual funds is not trading of goods, no payment obligation arises under Rule 6(3) of CENVAT Credit Rules. The impugned order was set aside. en-us Thu, 03 Jul 2025 00:00:00 +0530 Mon, 07 Jul 2025 08:42:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774275 CESTAT Mumbai allowed appellant's appeal regarding CENVAT credit reversal on mutual fund investment/disinvestment activities. Tribunal held that mutual fund transactions do not constitute "service" under Section 65B(44) of Finance Act, 1994, nor qualify as exempt services under Rule 2(e) of CENVAT Credit Rules. Since investment/disinvestment in mutual funds is not trading of goods, no payment obligation arises under Rule 6(3) of CENVAT Credit Rules. The impugned order was set aside. Case-Laws Service Tax Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774275