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2017 (4) TMI 804 - AT - Service TaxPenalty - imposition of simultaneous penalty u/s 76 and 78 of FA - The period involved in this case is from 01.07.2003 to 31.03.2009 - Held that: - Section 78 ibid was amended w.e.f. 10.05.2008 wherein the 5th proviso was appended thereto providing that if the penalty is payable under Section 78, provisions of Section 76 shall not apply. The effect of such amendment is that simultaneous penalty under both section 76 and 78 ibid cannot be imposed - such amendment cannot have the retrospective application in absence of any specific stipulation of that effect. Penalty levied under both Section 76 & 78 upto 10.05.2008 is sustainable and thereafter from 10.05.2008 to 31.03.2009, penalty u/s 76 is not sustainable. The appellant has already deposited 25% of the penalty u/s 78 ibid. The remaining 75% of penalty shall stand waived - appeal disposed off - decided partly in favor of assessee.
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