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Redemption of Mutual Funds can't be equated with trading; No reversal of Cenvat Credit: BLR Tribunal

April 19, 2021[2021] 126 215 (Bangalore - CESTAT)

EXCISE/ST/VAT : Where appellant only made investments in mutual fund and earned profit from it which was shown in Books of Account under head 'other income', he could not have been termed as 'service provider', hence, department had wrongly invoked provisions of rule 6(3) of Cenvat Credit Rules, 2004 demanding reversal of credit on exempted services

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