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2014 (2) TMI 485 - AT - Service TaxDemand of service tax on the basis of Profit and loss account figuring in Income Tax Return - inclusion of TDS amount - cum-duty value - The reason given by appellant is that this liability is in respect of amounts received by the appellant in the subsequent financial year on which they paid tax in the subsequent financial year - Held that:- there is some default on the part of the appellant in submitting reconciliation statement before the lower authorities though the basic reason for difference between figures in Income Tax return and ST-3 return was stated before the lower authorities. In the circumstances non-submission of reconciliation statement before lower authorities is not a sufficient reason for sending this matter involving such a small tax amount for another round of litigation. - Demand set aside. Regarding penalty u/s 78 - Held that:- this is a fit case to waive penalty in exercise of the powers under section 80. This appellant and the facts of the case cannot be considered on the same footing as the various assessees mentioned in para 10 (iv) earlier. So the penalty under section 78 is waived.
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