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2015 (8) TMI 816 - AT - Service TaxLevy of penalty - Renting of immovable property - waiver u/s 80 - Held that:- Taxable service brought under statute, there was dispute and the matter has not yet reached finality as the appeal is pending before the Honble Apex Court in the case of Home Sales Retail India Ltd. I also find that the first appellate authority has recorded in impugned order as an issue involving question of interpretation of the provision of the law, I find that ld. counsel is right in contending that if this is a question of interpretation for setting aside penalties under Sections 76 & 77, the same reasoning would be applicable for penalties under Section 78. Having acknowledged that the issue involved in this case is the interpretation of the law, I find that upholding penalty under Section 78 of the Finance Act, 1994 seems to be incorrect. - issue is of interpretation of law of the imposition of Service Tax on renting of immovable properties, by invoking the provisions of Section 80 of the Finance Act, 1994. I set aside the penalty imposed under Section 78 of the Finance Act, 1994. - Decided in favour of assessee.
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