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2018 (12) TMI 74 - AT - Service TaxPenalty u/s 77 and 78 of FA - invocation of Section 73(3) of the Finance Act, 1994 - appellant has paid service tax with interest on beiing pointed out - Held that:- Explanation of Section 73(3) is clarificatory in nature, hence can be made applicable both prospective and retrospective - The amendment vide Explanation to Section 73(3) is retrospective in nature as the said amendment has declared that no penalty shall be imposed in cases where the tax has been paid in full along with interest within before the issuance of the show cause notice. In the case of Tamil Nadu Small Inds. Corporation Limited v. Commissioner of Central Excise Chennai -[2008 (2) TMI 367 - MADRAS HIGH COURT], it was held that where an amendment has been introduced to clarify the intention of a notification, the said amendment shall be retrospective in nature. The appellant’s case deserves waiver of penalty imposed under Section 77 & 78 of the Finance Act, 1994 in view of Section 73(3) of the Finance Act, 1994 - appeal allowed - decided in favor of penalty.
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