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2016 (12) TMI 339 - AT - Service TaxDemand of tax with interest and penalties - amounts received by appellant from various financial institutions for organizing customers to secure loan for vehicles from those Institutions - appellant has already discharged the service tax liability and interest thereof - Held that: - Since the appellant has already discharged the service tax liability and the interest thereof on the taxability of the amount received from the financial institutions under "Business Auxiliary Service", we upheld the same. As regards the penalties, it is correctly pointed by learned Consultant as the issue was being disputed and had to be settled by the Larger Bench, we find that this is a fit case to invoke the provisions of Section 80 of the Finance Act, 1994. By invoking the provisions of Section 80 of the Finance Act, 1994, we set aside the penalties imposed on the appellant. Appeal allowed - decided in favor of appellant-assessee.
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