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2015 (12) TMI 85 - CESTAT NEW DELHIDenial of CENVAT Credit - Reverse charge mechanism - Held that:- There is no dispute about the admissibility of credit. Learned advocate submits that though the credit was taken prior to the deposit of same, but the credit was never utilized by them. It is a bona fide interpretation of law and no penalty should be imposed upon them on that ground. - Inasmuch as the entire credit was availed by reflecting the same on the statutory records and issue being bona fide interpretation of the provisions of law, no mala fide can be attributed to the appellant so as to invoke the penal provisions against them. - appellant was entitled to the credit and no penalty was to be imposed upon him - Decided in favour of assessee.
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