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TMI Blog2020 (1) TMI 272X X X X Extracts X X X X X X X X Extracts X X X X ..... for any business purposes, and credit cannot be allowed - HELD THAT:- The issue has been decided by this Tribunal in favour of the appellant in their own case M/S. OM LOGISTICS LTD. VERSUS COMMISSIONER OF CENTRAL GOODS AND SERVICE TAX, [ 2019 (8) TMI 1451 - CESTAT, PRINCIPAL BENCH, NEW DELHI] where it was held that appellant is entitled to benefit of cenvat credit under Rule 2 (l) of Cenvat Cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... service tax for keyman mediclaim/insurance policy in terms of Rule 14 of Cenvat Credit Rules, 2004 along with interest under Section 75 of the Finance Act, (for short, the Act). A penalty of equivalent amount has been imposed in terms of Rule 15 of Cenvat Credit Rules read with Section 78 of the Act. Being aggrieved by the impugned order, the appellant is in appeal before this Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. The case of the Department is that the life insurance policy of the keyman person, Shri Anil Singhal (Managing Director), is primarily for his personal use and not for any business purposes. Accordingly, show cause notice dated 16.3.2018 was issued proposing reversal of Cenvat credit availed upon the insurance policy under the provisions of Section 73(1) of the Act read with Section 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hand, the learned Authorised Representative supports the impugned order and says that the appellant in this case has not produced the insurance policy but only the receipt of premium. Therefore, the adjudicating authority could not examine the issue regarding the payment of premium. In the circumstances, he is of the opinion that the matter needs to go back the adjudicating authority for deciding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence) in such cases, no nomination is required. Thus, the Court Below was in error in imposing demand along with interest under Section 75 ibid and holding that the appellant company is not the beneficiary in the policy. Accordingly, I allow this appeal holding that the appellant is entitled to benefit of Cenvat credit under Rule 2(l) of Cenvat Credit Rules, on the Keyman Insurance. The impugned o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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