HCL Infosystems' Tax Demand Set Aside by CESTAT in Favour of Company
HCL Infosystems Limited has achieved a favorable outcome in a tax dispute after the Hon'ble Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed its appeal. The tribunal set aside an earlier order from the Commissioner, Central Goods & Services Tax Commissionerate, Noida.The decision addresses the taxability of service tax on multiple services. HCL Infosystems had challenged Order-in-Original No. 04/Commissioner/ST/Noida/2017-18, which was passed by the Office of the Commissioner, Central Goods & Services Tax Commissionerate, Noida on July 27th, 2017.
The appeal to CESTAT, Allahabad, resulted in the demand that had been confirmed against the company being set aside. This action relates to a tax demand totaling ₹ 22.85 Crores, along with applicable interest and equivalent penalty related to Section 73 of the Finance Act, 1994.
The dispute involved HCL Infosystems Limited as the petitioner against the Principal Commissioner, Central Goods & Service Tax, Noida. The outcome confirms that the original tax demand of ₹ 22.85 Crores is set aside in a favorable direction for the company.
Financial and litigation details are summarized below:
| Category | Details |
|---|---|
| Petitioner | HCL Infosystems Limited |
| Respondent | Principal Commissioner, Central Goods & Service Tax, Noida |
| Issue Involved | Taxability of Service Tax on multiple services |
| Original Demand Amount | ₹ 22.85 Crores (along with interest and penalty) |
| Regulatory Action | CESTAT allowed the appeal and set aside the Order-in-Original dated July 27th, 2017. |
HCL-INSYS Stock Price Movement
On Tuesday, HCL Infosystems Limited shares edged higher to close at ₹11.44, gaining 0.09%. The stock traded a total volume of 98,162 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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