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2010 (10) TMI 135 - HC - Service TaxPenalty - penalty under Section 76 of the Finance Act, 1994 can be reduced below the minimum limit prescribed - Whether the penalty under Section 76 of the Finance Act, 1994 can be dropped without invoking section 80 - in, law was entitled to come to a conclusion regarding the unawareness regarding tax liability/bona fide on the face of the fact that they had collected Service Tax - conjoint reading of Sections 76 and 80 of the Act, it is not possible to envisage a discretion as being vested in the authority to levy a penalty below the minimum prescribed limit – Order upholding reduction of penalty set aside
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