TMI Blog2012 (8) TMI 564X X X X Extracts X X X X X X X X Extracts X X X X ..... at:- whether disinvest is business activity or not has to be considered in detail by examining the activities of the appellant over a period of time, its memorandum and articles of association and other relevant facts before coming to a conclusion – matter remanded - pre-deposit is to be waived - E/2736-2737/2010 - 495-496/2011 - Dated:- 21-6-2011 - Shri B.S.V. Murthy, J. REPRESENTED BY : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovides for benefit of Cenvat credit in respect of service tax paid on input service utilized for various activities relating to business of the company. He submits that the appellant is engaged in the manufacture of hardware relating to telecommunication sector and also software and they had promoted JT Mobiles in Karnataka state. The appellant continued to hold shares for some time and finally de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Therefore it is neither relating to manufacturing activity nor the business activity and therefore, the appellant has rightly ineligible for the benefit. 4. I have considered the submission made by both sides. The question is as to whether investment in a company as a promoter and subsequent disinvestment can be considered as a business activity of the appellant. Even though the decision of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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