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2014 (12) TMI 912 - AT - Service TaxPenalty u/s 76 & 78 - Non receipt of service tax from ICICI - Held that:- Appellant is providing services relating to granting of loans for and on behalf of ICICI Bank - In view of the above charging of appellant’s activities to service tax under Business Auxiliary Services was prone to different interpretations. Under the circumstances, once the entire amount of service tax along with interest was paid by the appellant and as the issue was disputed and prone to different interpretations, no motive can be assigned to the appellant to evade any service tax. Appellant, therefore, had a reasonable cause for not discharging duty liability in time due to disputable nature of the service. Therefore, it is a fit case for non-imposition of penalties under Sec. 76 & 78 as per the provisions of Sec. 80 of the Finance Act, 1994 - Decided in favour of assessee.
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