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2009 (6) TMI 83 - AT - Service TaxPenalty for late payment of service tax filing of service tax return delayed – section 76, 77 and 78 – Waiver u/s 80 – Management Consultancy Services – held that - Section 80 of the Finance Act, 1994 provides that, “notwithstanding anything contained in the provisions of Section 76, Section 77 or Section 78, no penalty shall be imposable on the assessee for any failure referred to in the said provisions, if the assessee proves that there was reasonable cause for the said failure.” - They have maintained proper records of the transactions. It appears that M/s. Goodlass Nerolac Paints Ltd (client of the assessee). had not guided the respondent’s Proprietorship firm. It further appears that the Proprietor of the respondent firm in response to the summons immediately appeared and disclosed the entire transactions as recorded in the Bill Book, Bank Statement, etc. They have also paid the tax with interest – reasonable cause proved – penalty waived.
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