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2007 (12) TMI 180 - CESTAT NEW DELHICommissioner reduced penalty by invoking section 80 – delay in payment of tax – commissioner is justified in recording a finding that the major delay relates to initial months, namely September and October, 2004 when “banking and financial services” were included in the service tax net with effect from 10-9-2004 – but there was no reasonable cause for the delay after the initial period, therefore, some penalty was definitely required to be retained – appeal partly allowed
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