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2014 (6) TMI 65 - AT - Service TaxWaiver of penalty u/s 80 - Penalty u/s 76, 77 & 78 - Banking and Other Financial services - Held that:- Respondent is a Government of Madhya Pradesh Undertaking and it is difficult to believe that nonpayment of service tax was on account of their intention to evade the service tax. Moreover, the Respondent’s activity became taxable in the budget of 2004-2005 and it is very much possible that they were not aware that their activity would attract the service tax. In view of this, we are satisfied that the non-payment of service tax by the respondent was not due to any mala fide intention on their part and, hence, this is a fit case for invoking the provisions of Section 80. Therefore, we do not find any infirmity in the impugned order setting aside the penalty on Respondent under Sections 76 and 78 of the Finance Act, 1994 - Decided against Revenue.
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