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2014 (4) TMI 958 - AT - Service TaxWaiver of pre-deposit of penalty - penalty imposed under sec. 76, 77 & 78 - Held that:- appellants are paying service tax regularly as provider of banking and financial services. It was only during the audit, it was found certain discrepancy in respect of service tax. The service tax immediately paid along with interest. Thereafter, show-cause notice was issued. In these circumstances, we find that there is no intention on the part of the appellants to evade payment of tax and appellants were under the bonafide belief that the appellants were paying appropriate tax. It was only during the audit, certain discrepancy was found. In view of this, we find that the appellants are not liable for any penalty under sec. 76, 77 & 78 of the Finance Act as per provisions of sec. 80 of the Finance Act. Hence, penalty imposed under the impugned order is set aside - Decided in favour of assessee.
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