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2015 (5) TMI 255 - CESTAT AHMEDABADPenalty u/s 78 - Whether penalty under Section 78 of the Finance Act, 1994 is imposable upon the appellant when the entire amount of service tax along with interest was paid before the issue of show cause notice - Held that:- Once it is categorically held by Commissioner (Appeals) that appellant was under a bonafide belief that service tax as demanded was not payable, then a view can not be entertained that the facts will justify imposition of penalty under Section 78 of the Finance Act, 1994. Duty demanded in the show cause notice was ₹ 11,10,965/- but was confirmed only to the extent of ₹ 7,14,996/- in the Adjudication proceedings. The differential tax was only a reconciliation of accounts maintained by the appellant. Appellant is a co-operative bank. In view of the above facts this case is not fit for imposition of penalty under Section 78 of the Finance Act, 1994 - Decided in faovur of assessee.
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