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2017 (5) TMI 1204 - AT - Service TaxSimultaneous Penalty u/s 76 and 78 of FA - Banking and Financial Services - Held that: - simultaneous penalty u/s 76 and 78 of FA, 1994 prior to 10.2.2008, the day when there was amendment made in Section 78 of FA, 1994 will be imposable - During the period after 10.5.2008 as per the amended provisions of Section 78 if penalty is payable u/s 78, penalty u/s 76 of FA, 1994 is not to be imposed. The period involved in this case is 2006-2007 to 2008-2009. Thus the period involves the duration both prior to 10.5.2008 and after 10.5.2008. Therefore, the penalty is liable to be imposed for the offence pertaining to the period prior to 10.5.2008 under both the sections i.e. Section 76 and 78 of FA, 1993 - But for the period after 10.5.2008, no penalty u/s 76 can be imposed as already penalty u/s 78 has been imposed. The matter is remanded to the original adjudicating authority to decide the quantum of penalty u/s 76 and 78 for the contraventions pertaining to the period prior to 10.5.2008 as well as for the contraventions pertaining to the period after 10.5.2008 - appeal allowed by way of remand.
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