No Penalty for Reversed Credit after Claim of Loss received from Insurance Company: CESTAT [Read Order]

Penalty - Reversed credit - claim of loss - insurance company - CESTAT - Taxscan

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai bench held that penalty for reversed credit after a claim of loss received from insurance company is not sustainable. Ms Payal Nahar appeared for the appellant Shri N N Prabhudesai appeared for the respondent The appellant M/s Savita Oil Technologies Limited, a manufacturer of products…

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