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2019 (7) TMI 1661 - AT - Service TaxBanking and other Financial Services - allegation that the branch did not pay full amount of service tax on its income on the impugned service - period from October 2004 to September 2008 - levy of penalty - HELD THAT:- Appellant have not discharged their liability of Service Tax on various incomes during the impugned period over which they have realized the Service Tax in some cases and have not realized the Service Tax in some other cases. The cum-tax value benefit may be allowed in those cases where Service Tax has not been collected by the appellant - This has also been clarified vide Para 5.7 of CBEC instruction No.341/18/2004-TRU (PT) dated 17.12.2014. Levy of Penalty - Suppression of facts or not - HELD THAT:- There are no ingredient of suppression of facts, misstatement etc. with intent to evade payment of Service Tax. Hence the penalty imposed under Section 78 of the Finance Act, 1994 is set aside. The matter is remanded for the limited purpose of re-computation of cum-tax value and verification of the related documents - Penalty is set aside - appeal allowed in part.
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