Speciality Restaurants Ltd Secures Favorable Ruling from CESTAT Regarding Service Tax Demand
Speciality Restaurants Ltd has received a significant legal victory following an order passed by the Hon'ble Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai. The tribunal ruled in favor of the company regarding a long-standing dispute involving a show cause-cum-demand notice related to CENVAT Credit.The litigation originated from a show cause-cum-demand notice dated February 18, 2016, issued by the Commissioner of Service Tax, Audit III, Mumbai. The notice was received by the company on February 22, 2016, and pertained to the period from August 2012 to March 2015. The authorities had alleged that the company failed to reverse CENVAT Credit in accordance with established rules, leading to an adjudicated demand of Rs.7.87 crore.
The company initiated an appeal against the original order dated October 31, 2018, which had confirmed the demanded amounts. Following a multi-level appellate process, the CESTAT issued its order on July 15, 2026.
In its ruling, the tribunal found no merits in the impugned order that confirmed the adjudicated demands against the company. Consequently, the CESTAT has set aside the impugned order and allowed the appeal in favor of the appellants.
The following table summarizes the key details of the litigation:
| Detail | Description |
|---|---|
| Authority | Customs, Excise and Service Tax Appellate Tribunal (CESTAT) |
| Original Notice Date | February 18, 2016 |
| Period Covered | August 2012 to March 2015 |
| Adjudicated Amount | Rs.7.87 crore |
| Tribunal Order Date | July 15, 2026 |
| Outcome | Impugned order set aside; appeal allowed |
SPECIALITY Stock Price Movement
Speciality Restaurants Limited shares today slipped by 1.13% to settle at ₹130.18 in post-market trading. The stock saw a total turnover of 15,469 shares as the price retreated from its intraday high of ₹132.99.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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