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2016 (9) TMI 44 - CESTAT NEW DELHIDifferences in value appearing in balance sheet and returns - Authorized Service Station – Business Auxiliary Services – Demand of tax and interest – imposition of penalty under section 78 or 76 of the Finance Act, 1994 - waiver of penalty section 80 of the Finance Act,1994 – Held that: - When the Balance sheet entries and the value as reflected in ST-3 returns are based upon different accounting system, and when the entire value stands reflected in the balance sheet, the difference in the value of services cannot be attributed to any malafide on the part of the assessee. The appellant, by agreeing to the audit view deposited the tax immediately when objection raised – penalty not imposed – demand of tax and interest upheld which has been already paid by appellant – appeal allowed – decided partly in favor of appellant.
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