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2015 (3) TMI 832 - AT - Service TaxService tax liability - Reverse charge mechanism - Imposition of penalty - Held that:- For the period 18.04.2006 to 31.3.2008 service tax liability along with interest gets fastened on appellant is required to discharge interest liability on the said service tax in accordance with law. This takes us to the penalty imposed by the lower authorities on the appellant specifically for the period 18.04.2006 to 31.03.2008. We find that the contentions raised by the learned C.A. have a strong force. We do agree that during the relevant period the entire issue of service tax liability under reverse charge mechanism was being contested vehemently by both the sides at higher judicial forum. We find that the issue has attained finality with the judgement of Indian National Ship Owners Association on 14.12.2009. In our considered view and the facts and circumstances of this case, this is a fit case for invoking provisions of Section 80 of the Finance Act, 1994, by setting aside the penalties imposed by the lower authorities - Decided in favour of assessee.
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