Reversal of CENVAT credit - Investment in shares - Exempt ...

Central Excise

May 1, 2024

Reversal of CENVAT credit - Investment in shares - Exempt service or not - The Appellate Tribunal concurred with the appellant's argument that investment activities do not constitute a service. They emphasized that trading in securities does not qualify as a service, let alone an exempted service. Therefore, the demand for tax on investment income was deemed erroneous, and the impugned order was set aside.

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Reversal of CENVAT credit - Investment in shares - Exempt ...

Central Excise

May 1, 2024

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